Zheng Quan Zhi Xing·2025-08-29 10:24Summary of Key Points Core Viewpoint - The company has decided to change the implementation entities and locations for its fundraising projects to better align with its strategic development and industry trends, ensuring the effective use of raised funds without altering their intended purpose [1][6]. Group 1: Fundraising Overview - The company successfully completed its initial public offering (IPO) by issuing 48,632,745 shares, raising a total of RMB 932.78 million, with a net amount of RMB 831.82 million after deducting issuance costs of RMB 100.96 million [1]. - The raised funds have been verified by Tianjian Accounting Firm and are fully deposited in a dedicated account, managed under a tripartite supervision agreement [1]. Group 2: Investment Project Details - The company plans to invest the net proceeds in various projects, with a total investment of RMB 959.83 million, of which RMB 831.82 million will be allocated from the raised funds [2][3]. - The main project involves expanding the production capacity of brushless motors, with an annual output target of 3 million sets [3]. Group 3: Changes in Implementation Entities and Locations - The company has added its wholly-owned subsidiaries, Taixing Xingdesheng Motor Co., Ltd. and Taixing Xingdesheng Electric Co., Ltd., as new implementation entities for the "brushed motor technology upgrade project" [4]. - The new implementation locations are set in Taixing City, specifically at Coral Town and Huangqiao Industrial Park, replacing the previous site in Suzhou [3][4]. Group 4: Compliance and Governance - The company will adhere to relevant regulations regarding the use of raised funds, ensuring legal and effective management while fulfilling disclosure obligations [5]. - The board of directors and the supervisory board have approved the changes, confirming that they align with the company's operational needs and do not harm shareholder interests [5][6].