Core Viewpoint - Honglin Electric (301439.SZ) is currently experiencing a decline in stock price, closing at 17.16 yuan with a drop of 3.00%, indicating it is in a state of underperformance since its IPO [1] Group 1: IPO Details - Honglin Electric was listed on the Shenzhen Stock Exchange's ChiNext board on March 17, 2023, with an issuance of 97.28 million shares at a price of 19.99 yuan per share [1] - The stock reached a peak price of 28.00 yuan on its first trading day, marking the highest price since its listing [2] - The total funds raised from the IPO amounted to 1,944,627,200.00 yuan, with a net amount of 1,697,720,545.15 yuan after deducting issuance costs, exceeding the original plan by 999 million yuan [2] Group 2: Fund Utilization - The funds raised are intended for several projects, including intelligent manufacturing and capacity enhancement for power lines, technical upgrades for Weihai power lines, construction of a second phase production base for power connection devices in Thailand, and special cable technology upgrades, as well as to supplement working capital [2] - The total issuance costs (excluding VAT) were 246,906,654.85 yuan, with underwriting and sponsorship fees accounting for 217,011,061.13 yuan [2]