DAYUAN PUMP(SH:603757) Zheng Quan Zhi Xing·2025-08-25 16:20Core Viewpoint - Zhejiang Dayuan Pump Industry Co., Ltd. has provided a special report on the management and usage of raised funds for the first half of 2025, detailing the total amount raised, its allocation, and the management practices in place to ensure compliance and efficiency [1][2]. Fundraising Overview - The company raised a total of RMB 450 million through the issuance of convertible bonds, with a net amount of RMB 444.39 million after deducting issuance costs of RMB 5.61 million [1]. - The funds were fully received on December 9, 2022, and have been verified by an accounting firm [1]. Fund Usage and Balance - As of June 30, 2025, the company has spent RMB 21.42 million on fundraising projects and has invested RMB 70 million in financial products, with a total interest income of RMB 42,430.19 [2]. - The balance in the special account for raised funds was RMB 13.12 million, with an additional RMB 20 million in cash management products [3][4]. Fund Management Practices - The company has established a management system for raised funds in compliance with relevant laws and regulations, ensuring proper storage, usage, and oversight of the funds [2][3]. - A tripartite supervision agreement was signed with the bank and the sponsor to clarify the rights and obligations of all parties involved [3]. Investment Project Status - The company has utilized RMB 21.42 million for its investment projects during the reporting period, with no changes in the investment projects reported [4][8]. - The company has approved the use of raised funds to replace pre-invested self-raised funds amounting to RMB 154.80 million for investment projects and issuance costs [4][8]. Cash Management and Idle Funds - The company has not used idle funds to temporarily supplement working capital and has engaged in cash management for idle funds, with a balance of RMB 20 million allocated for this purpose [4][8]. - There are no instances of using excess raised funds for working capital or repaying bank loans, as no excess funds were raised [5][8]. Adjustments and Delays - The company has made adjustments to the internal investment structure of certain projects without changing the total investment amount or the project implementation details, ensuring that the adjustments do not adversely affect the projects [7]. - The timeline for the "Annual Production of 3 Million High-Efficiency Energy-Saving Pumps Expansion Project" has been postponed to June 30, 2026, due to changes in operational conditions and external environments [7].