CRSC(SH:688009) Shang Hai Zheng Quan Bao·2026-02-13 17:44Core Viewpoint - The company has announced the establishment of a special account for the management of raised funds and signed a regulatory agreement to ensure proper use of these funds for a new investment project in the rail transit signal system [1][2]. Fundraising Overview - The company raised a total of RMB 10.53 billion through its initial public offering, with a net amount of RMB 10.35 billion received [1]. - The new investment project, which is a rail transit signal system pilot base project, will utilize RMB 85.97 million of the remaining raised funds, accounting for 0.83% of the net amount raised [1]. Special Account and Regulatory Agreement - A special account has been opened for the new investment project, and a tripartite regulatory agreement has been signed with the bank and the sponsor [2][3]. - The special account is designated solely for the storage and use of funds related to the rail transit signal system pilot base project [3]. Responsibilities and Oversight - The sponsor is responsible for supervising the use of the raised funds and must appoint representatives to oversee the project [3][4]. - The bank is required to provide monthly account statements to both the company and the sponsor [5]. Conditions for Fund Withdrawal - If the amount withdrawn from the special account exceeds RMB 50 million or 20% of the net amount raised, the company must notify the sponsor promptly [5]. - The agreement allows for termination if the bank fails to provide timely statements or does not cooperate with the sponsor's investigations [5]. Legal Framework - The agreement is governed by Chinese law, and any disputes will be resolved through arbitration in Beijing [6]. - The agreement becomes effective upon signing and remains valid until all funds are fully utilized and the account is closed [6].