GGEC(SZ:002045) Zheng Quan Ri Bao·2025-08-25 23:53Summary of Key Points Core Viewpoint The report outlines the fundraising activities and management of Guoguang Electric Co., Ltd., detailing the amount raised, its usage, and compliance with regulatory requirements. Group 1: Fundraising Overview - In 2023, the company raised a total of RMB 1,384,098,595.72 by issuing 99,718,919 shares at a price of RMB 13.88 per share, with net proceeds after fees amounting to RMB 1,375,375,037.52 [1][14][21] - The funds were deposited into a designated account and have been verified by Tianheng Accounting Firm [1][14] Group 2: Fund Usage and Balance - As of June 30, 2025, the company had utilized RMB 129,557,357.16 of the raised funds, with a remaining balance of RMB 1,266,281,667.88 [2][5] - The company directly invested RMB 111,042,967.73 into projects and incurred various fees and losses, including intermediary fees and exchange losses [2][5] Group 3: Fund Management and Compliance - The company has established a management method for the raised funds to ensure proper storage, approval, and usage [3][11] - A tripartite supervision agreement was signed with banks and the underwriting institution to oversee the management of the funds [4][15] - The company has adhered to regulatory requirements and has disclosed its fundraising activities accurately and timely, with no violations reported [11][37] Group 4: Financial Performance - For the first half of 2025, the company reported total revenue of RMB 387,866.36 million, a year-on-year increase of 27.72%, with a gross profit margin of 13.16% [31] - Management and R&D expenses increased due to higher employee costs, while financial expenses rose due to exchange rate fluctuations [31]