Fundraising Overview - The company has received approval from the China Securities Regulatory Commission for its initial public offering (IPO), issuing 79,144,867 shares at a price of RMB 14.16 per share, raising a total of RMB 1,120.69 million, with a net amount of RMB 1,059.78 million after deducting issuance costs [1][2] - The funds have been fully received and verified by Tianzhi International Accounting Firm [1] Fund Management and Usage - The company has decided to lend up to RMB 58.5 million of the raised funds to its subsidiary, Xigao Institute (Xiamen) Electric Research Institute, for specific projects related to green electrical equipment technology research and enhancements in detection capabilities [1][2] - A special account for the raised funds has been opened at China Merchants Bank, with a tripartite supervision agreement signed among the company, the subsidiary, and the bank [2][3] Special Account Agreement - The special account is designated solely for the storage and use of funds related to the specified projects, and cannot be used for other purposes [3][4] - The agreement outlines that the funds can be placed in deposits or other reasonable savings methods, with specific reporting requirements to the sponsor [3][4] - The sponsor is responsible for supervising the use of the funds and must conduct regular checks on the account [4][5] Compliance and Reporting - The agreement mandates monthly account statements from the bank to the company and the sponsor, ensuring transparency in fund management [5] - Any withdrawals exceeding 20% of the net amount raised must be reported to the sponsor [5][6] - The agreement is governed by Chinese law and is effective upon signing, remaining valid until all funds are expended [6][7]
西安高压电器研究院股份有限公司 关于控股子公司开立募集资金专项账户并 签订募集资金三方监管协议的公告
Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-10-12 23:27