SMTCL(SZ:000410) Shang Hai Zheng Quan Bao·2025-10-09 18:35Core Viewpoint - The company has approved the use of up to RMB 1.686 billion of temporarily idle raised funds for cash management, ensuring that this does not affect the implementation of fundraising projects and guarantees the safety of the raised funds [8][20][21]. Group 1: Board Meeting Details - The board meeting was held on October 9, 2025, with all five directors present, including both in-person and video attendance [3][4]. - The meeting was convened in accordance with the relevant provisions of the Company Law of the People's Republic of China and the company's articles of association [4]. Group 2: Fundraising and Financial Management - The company raised a total of approximately RMB 1.7 billion through the issuance of 290,102,389 shares at a price of RMB 5.86 per share, with net proceeds after fees amounting to approximately RMB 1.689 billion [9]. - The company has established a special account for the raised funds and signed a tripartite supervision agreement with independent financial advisors and the supervising bank [9]. Group 3: Cash Management Proposal - The purpose of cash management is to enhance the efficiency of fund usage while ensuring the normal operation of fundraising projects [10]. - The company plans to use up to RMB 1.686 billion for cash management, with a maximum duration of 12 months, allowing for rolling use within this limit [11][12]. - Investment products will include safe and liquid options such as structured deposits, agreement deposits, and time deposits [12]. Group 4: Impact on Daily Operations - The cash management of temporarily idle funds will not affect the normal construction of fundraising projects or the regular use of raised funds, and it aims to generate additional investment returns [17][21]. Group 5: Internal Review and Opinions - The audit and risk committee, as well as independent directors, have expressed that the cash management does not change the purpose of the raised funds and is in the best interest of the company and its shareholders [21][22]. - The independent financial advisor confirmed that the cash management proposal complies with relevant regulations and will not impact the normal use of raised funds [23].