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嘉戎技术: 国投证券股份有限公司关于厦门嘉戎技术股份有限公司调整部分募投项目投资结构和募投项目延期的核查意见

Core Viewpoint - The company is adjusting the investment structure of certain fundraising projects and postponing their timelines to align with current market conditions and strategic development needs [1][15][16] Fundraising Overview - The company raised a total of RMB 111,830.07 million from its initial public offering, with a net amount of RMB 98,901.50 million after deducting issuance costs [1][2] - The funds are stored in designated special accounts, and agreements have been signed with the sponsoring institution and banks for fund supervision [2] Fundraising Project Status - As of June 30, 2025, the company has invested RMB 47,901.85 million in its fundraising projects, with a total planned investment of RMB 96,168.46 million [3][4] Adjustments to Investment Structure - The company is adjusting the investment structure of the "R&D Center Construction Project" to include a new research direction focused on "comprehensive process precious metal extraction and resource innovation" [4][6] - The adjustment involves reallocating funds from existing projects to meet the higher equipment investment needs of the new research direction [5][6] Project Timeline Postponement - The completion date for the "R&D Center Construction Project" has been postponed from December 31, 2025, to December 31, 2027, due to the adjustments made [6][9] - Other projects, including "High-Performance Membrane Material Industrialization" and "DTRO Membrane Component Capacity Expansion," have also had their timelines extended to December 31, 2027 [9][10] Rationale for Adjustments - The adjustments are driven by changes in the macroeconomic environment, industry trends, and the company's operational needs, ensuring alignment with national strategies for circular economy and resource recovery [6][13] - The company aims to enhance its competitive edge and explore new business growth points through these strategic changes [14][15] Project Feasibility and Expected Benefits - The adjusted projects are deemed necessary and feasible, with expected benefits including increased product value and improved market competitiveness [13][14] - The company plans to optimize resource allocation and enhance project management to ensure effective use of the raised funds [12][16]