BOCO(SH:600289) Zheng Quan Zhi Xing·2025-08-29 12:17Core Viewpoint - The company plans to terminate several fundraising investment projects and use the remaining funds to permanently supplement its working capital due to significant changes in its internal and external environment, as well as the infeasibility of the original projects [1][2][10]. Fundraising Investment Projects - The terminated fundraising investment projects include: Smart City Construction Project, Industry Big Data Analysis and Operation Project, Cloud Security Management System Construction Project, Network Optimization Intelligent Platform Construction Project, and Regional Innovation Application Workshop Construction Project [1][2][3]. - The total amount raised for these projects was 1,111.43 million yuan, with a net amount of 1,095.87 million yuan after deducting issuance costs [3][9]. Fundraising Status - As of June 30, 2025, the actual use of the raised funds was 329.35 million yuan, leaving 790.32 million yuan remaining, which includes 296.85 million yuan in the fundraising account and 493.47 million yuan that was judicially seized due to legal disputes involving the controlling shareholder [1][2][7][10]. - The fundraising account remains frozen, preventing the company from utilizing the funds [10][14]. Reasons for Termination - The termination of the fundraising projects is primarily due to the impact of legal disputes involving the company's controlling shareholder, which has led to the freezing of the fundraising account and significant adverse effects on project implementation [2][10]. - The company has assessed the current situation and determined that the original projects are no longer suitable for its future development and do not meet the conditions for continued implementation [2][10]. Remaining Fund Usage - The company intends to use the remaining funds for daily operations and business development after terminating the fundraising projects [2][11]. - The funds previously judicially seized will also be used to permanently supplement working capital [2][11]. Decision-Making Process - The decision to terminate the fundraising projects and reallocate the remaining funds has been approved by the company's board of directors and supervisory board, and it will be submitted for approval at the upcoming shareholders' meeting [12][13]. - The supervisory board believes that this decision is prudent and will not adversely affect the company's operations or shareholder interests [12][13].