募投项目延期、资金闲置，卓创资讯为何急于再赴港股上市？

Core Viewpoint - Zhuochuang Information (卓创资讯) is planning to list in Hong Kong despite having unutilized funds from its A-share IPO, raising concerns about its motives and project delays [1][4]. Group 1: Fundraising and Utilization - Zhuochuang Information raised approximately 449.85 million yuan in its A-share IPO, with a net amount of 389.1 million yuan after expenses [3]. - As of June 30, 2025, the company has utilized about 205.68 million yuan of the raised funds, leaving a significant portion idle for cash management [3][6]. - The projects funded by the IPO, including the "Commodity Big Data Platform" and "Benchmark Pricing System for Commodity Spot Market," have been delayed, with completion dates pushed to June 30, 2027, and December 31, 2025, respectively [4][6]. Group 2: Business Overview - Zhuochuang Information is a leading provider of commodity information services in China, holding a market share of 10.6% and ranking second in the industry as of 2024 [2]. - The company operates in various segments, including information services, digital services, consulting, and exhibition services [2]. Group 3: Financial Performance - The company's revenue for 2022 to 2025 (up to August) was approximately 273 million yuan, 284 million yuan, 294 million yuan, and 229 million yuan, respectively, with fluctuating gross margins [6]. - Despite revenue growth, net profit showed inconsistency, with a net profit of 58 million yuan in 2022 and a decrease to 45 million yuan in the first three quarters of 2025 [6]. Group 4: Leadership Background - The company's chairman, Jiang Hulin, has a diverse career background, transitioning from a sports education graduate to a significant figure in the information services industry [8]. - Jiang Hulin holds 34.93% of Zhuochuang Information's shares, with a history of shareholding arrangements that were formalized in 2017 [9].