MYSE(SH:601615) Zheng Quan Zhi Xing·2025-08-27 10:29Core Viewpoint - The report details the fundraising and usage status of Mingyang Smart Energy Group Co., Ltd. for the first half of 2025, highlighting the total amount raised, the allocation of funds, and the completion of various projects [1][2][3]. Fundraising Overview - The company raised a total of RMB 577,204.73 million from a non-public stock issuance, with a net amount of RMB 577,204.73 million after deducting issuance costs [1][2]. - As of December 31, 2024, the cumulative amount used from the raised funds was RMB 479,554.73 million, leaving an unused balance of RMB 97,650.00 million [2]. Fund Usage and Project Status - By June 30, 2025, the company had completed the 10MW offshore floating wind turbine design and research project, reallocating the remaining funds of RMB 23,472.05 million to the Zhangjiakou Alibaba Data Center integrated project [3][8]. - The adjusted investment amount for the Zhangjiakou project is RMB 60,840.21 million, with a cumulative investment of the same amount by June 30, 2025 [3][4]. Fund Management - The company adheres to strict regulations for managing and using the raised funds, maintaining dedicated accounts and ensuring funds are used for their intended purposes [6][7]. - As of June 30, 2025, the total balance in the dedicated accounts was RMB 706,815,703.78, including interest income of RMB 6,003.37 million [7]. Project Changes and Reallocations - The company has made several changes to the intended use of funds, including reallocating RMB 37,125.22 million from the mixed tower production base project to the Xinyang Huangming New Energy 100MW wind project [9][20]. - The company also redirected RMB 89,111.20 million from the Shantou Ocean Engineering Base project to fund the Mingyang Yumen New Min Fortress 100,000 kW wind farm project and the Zhangjiakou Alibaba Data Center project [9][20]. Project Completion and Transfers - Several projects have been completed and transferred, including the Beijing Jiyuan Qingtongxia Gorge Wind Power Project and the Mingyang Xinyang Qilong Mountain Wind Power Project, with total investments of RMB 56,278.15 million and RMB 32,868.31 million, respectively [10][12]. - The company has successfully transferred ownership of multiple projects, receiving significant proceeds from these transactions [10][12].