RAYITEK(SH:688323) Zheng Quan Zhi Xing·2025-08-22 16:24Summary of Key Points Core Viewpoint The report provides an overview of the fundraising activities and the management of the raised funds by Shenzhen Ruihua Tai Film Technology Co., Ltd., detailing the amount raised, its usage, and compliance with regulations. Group 1: Fundraising Overview - The total amount raised through the issuance of convertible bonds is RMB 422.58 million, with a net amount of RMB 422.58 million after deducting issuance costs of RMB 7.42 million [1]. - As of June 30, 2025, the company has utilized RMB 426.05 million of the raised funds, including RMB 11.16 million used in the current year [1]. Group 2: Fund Usage and Management - The funds were primarily allocated to the Jiaxing high-performance polyimide film project (RMB 332.90 million) and to supplement working capital and repay bank loans (RMB 93.14 million) [1]. - The company has established a dedicated account for managing the raised funds, ensuring compliance with relevant laws and regulations [1]. Group 3: Financial Performance of Projects - The Jiaxing high-performance polyimide film project has generated revenue of RMB 94.93 million in the first half of 2025, but reported a net loss of RMB 23.84 million, indicating that the project is still in the ramp-up phase with relatively high unit costs [6]. - The project has completed construction and is gradually increasing production efficiency, with four production lines starting operations in September 2023 [5][6].