Zheng Quan Zhi Xing·2025-08-29 18:21Core Viewpoint - The company, Yangzhou Tianfulong Group Co., Ltd., is utilizing its own funds and bank acceptance bills to pay for part of the fundraising investment projects and will replace these with raised funds in an equal amount, ensuring compliance with relevant regulations and improving fund usage efficiency [1][7]. Fundraising Basic Situation - The company has been approved to publicly issue 40.01 million shares at a price of RMB 23.60 per share, raising a total of RMB 944.236 million, with issuance costs amounting to RMB 65.914 million [1][2]. Fundraising Investment Project Situation - The net proceeds from the fundraising will be allocated to main business-related projects, including: - 170,000 tons of low-melting-point polyester fiber and 10,000 tons of high-elastic low-melting-point fiber project - Recycling short fiber R&D center - Low-melting-point fiber R&D center - Total investment of RMB 114.5315 million, with RMB 79 million planned from raised funds [2][3]. Reasons for Using Own Funds and Bank Bills - The company needs to use its own funds and bank acceptance bills for initial payments due to: - Compliance with regulations requiring salary payments through basic or general deposit accounts [3][4]. - Tax and social security payments must be made through bank collection, complicating direct payments from the fundraising account [3]. - Small expenses related to travel and other operational costs are more efficiently managed with own funds [4]. - Using own funds can expedite payment processes and improve financial efficiency [4][5]. Operational Process for Fund Replacement - The company plans to use its own funds and bank bills for payments and will regularly replace these with raised funds, following a structured approval process [5][6]. Impact on Daily Operations - The approach of using own funds and bank bills is expected to enhance fund usage efficiency and reduce financial costs without affecting the normal operation of the company or the implementation of fundraising projects [5][6]. Review Procedures - The company’s board and supervisory committee have approved the use of own funds and bank bills for project payments, ensuring compliance with necessary decision-making processes [6][7]. Opinions from Supervisory Committee and Sponsor - The supervisory committee and sponsor have both expressed agreement with the company's approach, confirming that it aligns with legal regulations and does not harm shareholder interests [6][7].