Changjiang Media(SH:600757) Zheng Quan Zhi Xing·2025-08-25 16:31Summary of Key Points Core Viewpoint The report outlines the fundraising activities and the management of the raised funds by Changjiang Publishing & Media Co., Ltd. for the first half of 2025, detailing the amount raised, its usage, and the remaining balance. Group 1: Fundraising Overview - The company raised a total of RMB 117,079 million through a non-public offering of 173,965,824 shares at RMB 6.73 per share, with a net amount of RMB 114,118.52 million after deducting fees [1]. - As of June 30, 2025, the company has utilized RMB 64,730.44 million of the raised funds, with RMB 9,452.28 million used in the current year [1][2]. - The remaining balance of the raised funds is RMB 87,707.41 million, which includes interest from bank deposits [1]. Group 2: Fund Management - The company has established a dedicated account for managing the raised funds, adhering to regulations and guidelines to ensure proper usage and efficiency [1]. - As of June 30, 2025, the company holds a total of RMB 877,074,187.31 in various accounts, including a dedicated fund management account and several investment accounts [1][2]. Group 3: Fund Usage and Adjustments - In the current year, the company has not used any idle funds for temporary liquidity support, nor has it replaced any prior investments [2]. - The company has decided to permanently supplement working capital with RMB 3,166.49 million from surplus funds after completing the "Upgrade and Renovation of Physical Bookstores" project [2][3]. - The company has also changed the investment focus from several projects to the "Cultural Technology Park Project," reallocating a total of RMB 42,362.93 million, with RMB 41,000 million directed to the new project [4][5].