Seashine(SZ:300885) Zheng Quan Zhi Xing·2025-08-25 16:12Summary of Key Points Core Viewpoint - The company intends to conclude the investment project funded by the excess raised capital from its initial public offering and permanently supplement its working capital with the remaining funds, which aligns with regulatory requirements and aims to enhance operational efficiency [1][6][7]. Fundraising Overview - The company raised a total of RMB 379.4 million by issuing 20 million shares at RMB 18.97 each, with a net amount of RMB 344.0 million after deducting issuance costs [1][2]. - The excess funds raised amounted to RMB 10.07 million, which will be utilized for operational needs [3][6]. Investment Project Details - The main investment projects include the construction of a 4,000-ton high-grade powder metallurgy component project and a technology renovation project for powder metallurgy new materials, with a total investment of RMB 243.31 million [3][4]. - The project has reached a usable state, allowing for its conclusion and the reallocation of surplus funds [5][6]. Use of Excess Funds - The company plans to use RMB 2.83 million of the surplus funds for permanent working capital, which constitutes 28.08% of the total excess funds [6][7]. - The decision to use excess funds for working capital is based on the need to improve fund utilization efficiency and support business development [5][6]. Approval and Compliance - The proposal to conclude the investment project and use the surplus funds has been approved by the board of directors and requires shareholder approval for execution [7][8]. - The process adheres to relevant regulations and does not harm the interests of shareholders, particularly minority shareholders [7][8].