Core Viewpoint - The company, Shaoxing Xingxin New Materials Co., Ltd., has approved the use of temporarily idle raised funds and self-owned funds for cash management, with a total amount not exceeding RMB 4.4 billion for raised funds and RMB 2.2 billion for self-owned funds, to enhance fund utilization efficiency while ensuring the normal operation of the company and the progress of investment projects [2][20][21]. Group 1: Fund Management Decision - The board of directors approved the cash management proposal on January 13, 2026, allowing the use of idle funds without affecting normal operations and project progress [2][20]. - The maximum amount for cash management is set at RMB 4.4 billion for temporarily idle raised funds and RMB 2.2 billion for self-owned funds, with a validity period of up to 12 months [2][9][11]. - The funds can be used in a rolling manner, and any cash management returns will be promptly returned to the designated account for raised funds [2][9][19]. Group 2: Fund Utilization and Investment Projects - The company raised a total of RMB 902 million from its initial public offering, with a net amount of RMB 809.588 million after deducting issuance costs [3]. - The company has established a special account for the raised funds and signed a tripartite supervision agreement with the sponsor and the bank [3]. - The company plans to use surplus funds from the "R&D Building Construction Project" and part of the over-raised funds to increase capital for its wholly-owned subsidiary, Anhui Xingxin New Materials Co., Ltd., for a new investment project [5][6]. Group 3: Cash Management Strategy - The cash management aims to improve fund utilization efficiency while ensuring the safety of funds and compliance with regulations [7][19]. - The company will invest in low-risk financial products with high liquidity and safety, such as bank deposits and structured deposits, avoiding high-risk investments [10][19]. - The board has authorized the management to make decisions and sign contracts related to cash management within the approved limits [12][19]. Group 4: Compliance and Oversight - The company will adhere to relevant regulations and guidelines for information disclosure and fund management [14][21]. - The sponsor has confirmed that the cash management proposal complies with applicable laws and regulations, ensuring no change in the purpose of raised funds [21][22]. - The board's decision and the sponsor's review are documented and available for reference [22][32].
绍兴兴欣新材料股份有限公司关于使用暂时闲置募集资金和自有资金进行现金管理并以协定存款方式存放余额的公告