Tonhe TECH.(SZ:300491) Zheng Quan Zhi Xing·2025-08-29 18:14Core Viewpoint - The report provides an audit opinion on the use of previously raised funds by Shijiazhuang Tonghe Electronic Technology Co., Ltd., confirming that the funds have been used in accordance with regulations and accurately reflect the company's financial situation as of June 30, 2025 [1][3]. Fundraising Situation - The company raised funds through a non-public issuance of 16,099,103 shares at a price of 14.95 RMB per share to acquire 100% equity of Xi'an Howey Power Co., Ltd. [2] - In 2021, the company issued 14,140,271 shares to specific investors, raising a net amount of approximately 244.23 million RMB [2]. Actual Use of Funds - The report includes a detailed table comparing the planned versus actual use of the raised funds, indicating that the funds were utilized as intended [3]. - The company provided interest-free loans totaling 24.42 million RMB to its wholly-owned subsidiaries to support project implementation [7][8]. Financial Performance of Acquired Company - As of June 30, 2025, the total assets of Howey Power were approximately 403.50 million RMB, with total liabilities of about 223.94 million RMB [4]. - The revenue for Howey Power showed a decline from 145.40 million RMB in 2022 to 70.54 million RMB in the first half of 2025 [4]. Performance Commitment - The performance commitments for Howey Power included net profit targets of 17 million RMB, 25 million RMB, and 33 million RMB for the years 2018, 2019, and 2020, respectively [6]. - The actual net profits achieved were 18.45 million RMB, 24.84 million RMB, and 24.97 million RMB, indicating that the commitments were not fully met, triggering compensation obligations [6]. Changes in Fund Usage - The company did not change the actual investment projects for the funds raised in 2021, and it has completed the replacement of prior investments with raised funds amounting to 17.22 million RMB [7][9]. - The company has also agreed to use surplus funds of approximately 20.99 million RMB to permanently supplement working capital [8][9].