TD Online(SZ:002995) Zheng Quan Ri Bao·2025-08-27 23:23Summary of Key Points Core Viewpoint The report provides a detailed account of the fundraising activities and the management of the raised funds by Beijing Quanshi Tiandi Online Network Information Co., Ltd. for the first half of 2025, highlighting the total amount raised, its usage, and the management protocols in place to ensure compliance with regulatory requirements. Fundraising Overview - The company raised a total of RMB 547.19 million through the issuance of 16.17 million shares at RMB 33.84 per share, with a net amount of RMB 480.95 million after deducting issuance costs [1][2]. - The funds were received on July 28, 2020, and have been audited by Tianzhi International Accounting Firm [2]. Fund Usage and Balance - As of June 30, 2025, the company has utilized RMB 362.88 million of the raised funds, with RMB 861.95 million used in the current year and RMB 354.26 million from previous years [3]. - The remaining balance in the special account for the raised funds is RMB 4.97 million, with RMB 90 million invested in short-term deposits and RMB 40 million in principal-protected financial products [3][6]. Fund Management Protocols - The company has established a fundraising management system in compliance with relevant laws and regulations, ensuring that funds are stored in dedicated accounts and used strictly for designated projects [4]. - A tripartite supervision agreement has been signed with banks and the sponsor to ensure strict approval procedures for fund usage [5]. Project Implementation and Changes - The company has made changes to the implementation subjects of certain fundraising projects, allowing subsidiaries to take over specific projects and providing them with loans for execution [7][8]. - The company has also extended the deadlines for project completion due to various factors, including construction progress and external conditions [9][11]. Idle Fund Management - The company has temporarily used idle funds to supplement working capital, with a total of RMB 200 million utilized across several instances, all of which have been returned to the dedicated accounts before the deadlines [15][16][17]. - As of June 30, 2025, the balance of idle funds used for cash management is RMB 130 million [20]. Remaining Funds and Future Plans - As of June 30, 2025, the company has RMB 118.07 million of the raised funds remaining, accounting for 24.55% of the total raised amount, primarily due to the long cycle of certain investment projects [22]. - The company plans to ensure the reasonable use of the remaining funds in accordance with the investment commitments made during the fundraising process [22]. Compliance and Reporting - The company asserts that it has complied with all regulatory requirements regarding the management and usage of raised funds, with no violations reported [24]. - The board of directors has approved the semi-annual report and the special report on the storage and usage of raised funds, confirming the accuracy and completeness of the disclosures [36][41].