Hunan Hualian China Industry (SZ:001216) Shang Hai Zheng Quan Bao·2025-09-02 20:45Core Viewpoint - Hunan Hualian Ceramics Co., Ltd. has announced a change in its continuous supervision institution and sponsor representative, signing new tripartite and quadripartite supervision agreements for the management of raised funds [2][3][18]. Fundraising Overview - The company has publicly issued 62,966,700 shares of RMB ordinary shares (A shares), raising a total of RMB 589,997,979.00, with a net amount of RMB 532,679,111.08 after deducting related expenses of RMB 57,318,867.92 [3][4]. Fund Management Agreements - The company has established a special account for raised funds with China Bank, with a balance of RMB 52,209,249.61 as of August 19, 2025, designated solely for the technical transformation project of daily-use ceramics production line [4][5]. - The tripartite supervision agreement stipulates that the sponsor institution, Zhongyuan Securities, will supervise the use of raised funds and conduct at least biannual inspections [5][6]. - The quadripartite agreements with subsidiaries stipulate similar fund management protocols, ensuring that funds are used exclusively for designated projects [10][13]. Compliance and Reporting - The agreements require monthly reconciliation statements from the bank, and any withdrawals exceeding RMB 50 million or 20% of the net raised funds must be reported promptly [5][10]. - The agreements also outline the responsibilities and rights of each party, including the ability of the sponsor to change representatives and the procedures for addressing breaches of contract [9][12]. Documentation - The company has made available the signed tripartite and quadripartite agreements for public record, ensuring transparency in the management of raised funds [17][18].