Kinwong(SH:603228) Zheng Quan Zhi Xing·2025-08-29 18:14Summary of Key Points Core Viewpoint - The company, Shenzhen Jingwang Electronics Co., Ltd., is continuing to use raised funds to provide loans to its wholly-owned subsidiary for the implementation of investment projects, following the necessary approvals and regulatory compliance [1][6]. Fundraising Overview - The total amount raised through the issuance of convertible bonds was RMB 1,154 million, with a net amount of RMB 1,139.62 million after deducting issuance costs of RMB 14.38 million [1][2]. - The funds are managed in a dedicated account as per the regulations set by the China Securities Regulatory Commission [2]. Fund Replacement Details - The company approved the use of RMB 339.57 million of the raised funds to replace self-raised funds previously invested in the projects and to cover issuance costs [2][3]. Investment Project Overview - The total investment for the project, specifically for the first phase of the PCB project at Jingwang Electronics Technology (Zhuhai) Co., Ltd., is RMB 2,587.15 million, with RMB 1,154 million allocated from the raised funds [3]. Loan Details - The company plans to provide a loan of up to RMB 30 million to its subsidiary, Zhuhai Jingwang, to ensure the smooth implementation of the investment project [4][6]. - The loan will be effective from the date of board approval until the completion of the project [4]. Subsidiary Information - Zhuhai Jingwang, a wholly-owned subsidiary, has a registered capital of RMB 3 billion and is involved in the R&D, production, and sales of printed circuit boards and related electronic components [5]. Impact of the Loan - The loan aligns with the company's investment strategy and complies with relevant laws and regulations, ensuring that the interests of the company and its shareholders are protected [6]. Approval Process - The board of directors approved the loan, and it does not require further shareholder approval as it does not constitute a related party transaction or a major asset restructuring [6]. Sponsor's Verification Opinion - The sponsor, Minsheng Securities, confirmed that the use of raised funds for the loan to the subsidiary complies with internal approval processes and does not alter the intended use of the funds [6].