Shang Hai Zheng Quan Bao·2026-02-27 20:36Core Viewpoint - The company has approved the continued use of idle raised funds for cash management, not exceeding RMB 1 billion, to enhance fund utilization efficiency while ensuring that it does not affect the construction of investment projects and normal operations [3][7][15]. Group 1: Board Meeting Details - The second board meeting was held on February 27, 2026, with all 9 directors present, complying with legal and regulatory requirements [2]. - The board unanimously approved the proposal to continue using idle raised funds for cash management [3][16]. Group 2: Fund Management Proposal - The company will use up to RMB 1 billion of idle raised funds for cash management, effective for 12 months from the board's approval date, with funds allowed to be rolled over within this limit [7][16]. - The cash management will focus on low-risk, high-liquidity products, ensuring that the investment does not affect the ongoing projects [9][10]. Group 3: Fund Usage and Status - As of December 31, 2025, the company has utilized RMB 1,326.66 million of the raised funds, with a remaining balance of RMB 1,043.44 million [8]. - The company has established a three-party supervision agreement for the management of raised funds, ensuring compliance and safety [8]. Group 4: Independent Board and Sponsor Opinions - The independent board meeting supported the cash management proposal, confirming it aligns with regulatory requirements and does not harm shareholder interests [16][17]. - The sponsor, Huatai United Securities, has no objections to the cash management plan, affirming it enhances fund efficiency without altering the intended use of raised funds [16][17].