Koal(SH:603232) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-11-27 02:49Core Points - The company has appointed China Galaxy Securities as the new sponsor for its 2025 non-public stock issuance, taking over from CITIC Securities [1] - The total amount raised from the non-public issuance was approximately RMB 644.8 million, with a net amount of RMB 636 million after deducting issuance costs [1] - The company has established a four-party supervision agreement for the management of raised funds, involving the company, the sponsor, the project implementation entities, and the bank [2][3] Fundraising Overview - The company issued 20,901,134 shares at a price of RMB 30.85 per share, with a face value of RMB 1.00 per share [1] - The funds raised will be used for the "Data Security Management Platform R&D and Business Expansion Project" after the completion of the previous project [2][4] Supervision Agreement Details - The four-party supervision agreement includes the company, Shanghai Geer Safety Technology Co., Ltd., Shanghai Xinyuantong Technology Co., Ltd., and China Galaxy Securities, with the bank being China Merchants Bank [3] - The agreement stipulates that the funds must be stored in a dedicated account and used solely for the specified projects [4][6] - The sponsor has the right to supervise the use of funds and can conduct checks at least semi-annually [4][5] Account Management - The dedicated accounts have been opened with specific balances for the projects, with RMB 3.5868 million and RMB 450,700 respectively as of September 30, 2025 [3][4] - Any withdrawal exceeding RMB 50 million or 20% of the net amount raised must be reported to the sponsor [6][7] Legal and Compliance - The agreement includes provisions for freezing funds if the company is under investigation for false statements or omissions [7] - Disputes arising from the agreement should first be resolved through negotiation, failing which they can be taken to court [8][9]