Xinjiang Communications Construction (SZ:002941) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-12-03 01:45Core Viewpoint - The company has approved the temporary use of idle raised funds to supplement its working capital, amounting to no more than 264.10 million yuan, for a period not exceeding 12 months, ensuring compliance with relevant regulations and maintaining shareholder interests [3][10][12]. Group 1: Board Meeting Details - The fourth extraordinary meeting of the board of directors was held on December 2, 2025, with all nine directors present, confirming the meeting's legality and effectiveness [2]. - The board unanimously approved the proposal to use idle raised funds for working capital, with a voting result of 9 in favor, 0 against, and 0 abstentions [4]. Group 2: Fund Usage and Management - The company plans to use up to 264.10 million yuan of idle raised funds temporarily to enhance liquidity, with a commitment to return the funds to the designated account within 12 months [3][10]. - As of November 27, 2025, the balance of the special account for raised funds was 264.10 million yuan, including net interest received [8]. - The company previously used 208.84 million yuan of idle funds for working capital, which has been fully returned to the designated account [9]. Group 3: Financial Implications - The temporary use of idle funds is expected to save approximately 7.92 million yuan in financial costs by reducing bank borrowing [11]. - The company assures that the use of these funds will not affect the normal progress of investment projects and will not involve high-risk investments [10][12]. Group 4: Compliance and Oversight - The board and the audit committee have confirmed that the decision to use idle funds complies with relevant regulations and does not harm shareholder interests [13][14]. - The sponsor institution has expressed no objections to the proposal, affirming that it aligns with the company's operational needs and regulatory requirements [15].