Zhongtai Securities(SH:600918) Zheng Quan Zhi Xing·2025-08-27 09:20Core Viewpoint - The company plans to permanently supplement its working capital with the remaining funds from certain fundraising projects, which is seen as a reasonable decision to enhance the efficiency of fund utilization and align with shareholder interests [8][9][10]. Fundraising Overview - The company raised a total of RMB 1,166 million by issuing 100 million shares at a price of RMB 11.66 per share, with a net amount of RMB 1,110.35 million after deducting related fees [1][2]. - The net proceeds from the fundraising are allocated to various projects, including a new production line for non-PVC soft bags and a solid preparation workshop [2][3]. Project Adjustment - The company has made adjustments to its fundraising projects, which were approved in multiple meetings, including a significant change to the "cGMP solid preparation workshop" project [2][3][4]. - The adjusted projects include a new production line for 2 billion freeze-dried powder injections and a BFS integrated filling project [3]. Remaining Funds and Working Capital - As of October 26, 2023, the company decided to use the remaining funds from the "cGMP solid preparation workshop" project to permanently supplement its working capital, with a remaining balance of RMB 10,303.37 million [3][4]. - The decision to supplement working capital is based on the completion of the project and the need to optimize fund allocation [9][10]. Financial Impact - The remaining funds, amounting to RMB 8,729,584.74, will be used for contract tail payments and warranty payments, which will be settled using the company's own funds [9][10]. - This move is expected to improve fund allocation efficiency, reduce financial costs, and support the company's long-term development without adversely affecting normal operations [9][10]. Regulatory Compliance - The decision to use the remaining funds for working capital has been reviewed and approved by the company's board of directors and supervisory committee, ensuring compliance with relevant regulations [10].