HONGBAOLI(SZ:002165) Sou Hu Cai Jing·2025-12-24 23:14Core Viewpoint - The company has decided to postpone the "Epoxy Propane Comprehensive Technology Renovation Project" due to delays in project construction and regulatory approvals, with the expected operational date now extended to June 30, 2026 [6][11][13]. Group 1: Fundraising Overview - The company raised a total of RMB 508.87 million through a private placement of 133,211,727 shares at RMB 3.82 per share, with a net amount of RMB 499.19 million after deducting issuance costs [2]. - The funds are to be used specifically for the "Epoxy Propane Comprehensive Technology Renovation Project," with a planned total investment of RMB 399.10 million, of which RMB 371.62 million will be funded by the raised capital [4][8]. Group 2: Project Delay Reasons - The delay in the project is attributed to increased regulatory requirements and longer safety evaluations, which have extended the construction timeline [5][10]. - Additional factors include unexpected difficulties in installation and adverse weather conditions during peak construction periods [10]. Group 3: Project Investment Adjustment - The investment estimate for the project has been revised to RMB 584.88 million, an increase of RMB 18.58 million from the original plan, with the shortfall to be covered by the company's own funds [7]. Group 4: Impact of Delay on Operations - The postponement of the project is expected to have no significant impact on the company's daily operations and aligns with the company's development needs [11][12]. - The company will maintain strict oversight of the use of raised funds and ensure compliance with relevant regulations [12]. Group 5: Board and Sponsor Opinions - The board of directors has approved the project delay, confirming that it does not affect the project's implementation, funding purposes, or scale [13][15]. - The sponsor institution has also expressed no objections to the delay, affirming that the decision adheres to regulatory requirements [14][15].