Summary of Key Points Core Viewpoint The report outlines the usage of funds raised by Changhua Chemical Technology Co., Ltd. through its initial public offering, detailing the total amount raised, expenses incurred, and the allocation of funds to various projects, including a significant shift in investment focus towards a new project involving carbon dioxide polyether and high-performance polyols. Group 1: Fundraising and Allocation - The company raised a total of RMB 902,537,500.00 by issuing 35.05 million shares at RMB 25.75 each, with net proceeds after underwriting fees amounting to RMB 851,450,471.70 [1][2]. - After deducting various expenses, the actual usable funds were RMB 825,059,369.81, with a remaining balance of RMB 184,345,219.18 as of June 30, 2025 [1][2]. Group 2: Project Changes and Investments - In April 2024, the company decided to terminate the original fundraising project for the "Research and Development Center" and redirect the funds towards the "Carbon Dioxide Polyether and High-Performance Polyols Project (Phase I)" [2][3]. - The total investment for the new project is estimated at RMB 586,249.00 million, with Phase I expected to cost RMB 331,377.00 million [4]. Group 3: Financial Management and Efficiency - The company has implemented cash management strategies for temporarily idle funds, allowing for investment in low-risk financial products, with a maximum of RMB 50,000 million allocated for such purposes [6]. - The report indicates that the company has pre-invested RMB 121,347,500.00 of its own funds into projects before the public offering funds were available, which will be replaced by the raised funds [6]. Group 4: Economic Benefits and Performance - The report highlights that the "Carbon Dioxide Polyether and High-Performance Polyols Project" is expected to enhance the company's research capabilities and market competitiveness, although the R&D center itself does not directly generate economic benefits [7][8]. - The company anticipates that the new project will improve production efficiency and expand market share, contributing positively to overall profitability [8].

Core Viewpoint - The company plans to use raised funds to increase capital or provide loans to its wholly-owned subsidiaries for the implementation of fundraising projects, ensuring the smooth execution of these projects and aligning with the company's development strategy [1][5][9]. Fundraising Overview - The company raised a total of RMB 2,789,650,905.40 through the issuance of 28,020,000 convertible bonds at a face value of RMB 100 each, as approved by the China Securities Regulatory Commission [1][2]. - The total amount intended for investment projects is RMB 280,200.00 million, with adjustments made based on the actual fundraising amount after deducting issuance costs [2][3]. Fund Allocation - The company will allocate RMB 42,899.94 million to Wuhu Berteli Electronic Control Systems Co., Ltd., RMB 24,477.43 million to Weihai Berteli Automotive Safety Systems Co., Ltd., and RMB 59,207.19 million to Wuhu Berteli Mexico LLC for various projects [3][8]. - The projects include the development and industrialization of electronic mechanical brakes, line control chassis brake systems, and electronic parking brake systems, among others [3][5]. Subsidiary Information - Wuhu Berteli Electronic Control Systems Co., Ltd. has total assets of RMB 159,654.70 million and net assets of RMB 71,152.60 million as of March 31, 2025 [5]. - Weihai Berteli Automotive Safety Systems Co., Ltd. reported total assets of RMB 165,136.44 million and net assets of RMB 137,267.44 million as of March 31, 2025 [6]. - Wuhu Berteli Mexico LLC has total assets of RMB 132,930.10 million and net assets of RMB 23,483.07 million as of March 31, 2025 [7]. Purpose and Impact of Fund Usage - The use of raised funds for capital increase or loans is aimed at ensuring the successful implementation of fundraising projects, which aligns with the company's strategic goals and complies with relevant laws and regulations [8][9]. - The company maintains control over its subsidiaries during the funding period, minimizing financial risks [8]. Fund Management - The raised funds will be managed in a dedicated account, and a four-party supervision agreement will be established to ensure compliance with regulations [8]. - The company will adhere to the relevant disclosure obligations as per legal requirements [8]. Approval Process - The board of directors and the supervisory board approved the use of raised funds for the subsidiaries during meetings held on July 30, 2025, without the need for shareholder approval [8][9].

Core Viewpoint - Guangdong Siquan New Materials Co., Ltd. has provided a report on the use of previously raised funds, confirming compliance with regulatory requirements and reflecting the actual usage of funds as of June 30, 2025 [1][2]. Fundraising and Usage Summary - The company raised a total of RMB 600,751,114.44 through the issuance of 14,420,334 shares at a price of RMB 41.66 per share, with net proceeds after deducting issuance costs amounting to RMB 533,371,166.95 [2][3]. - As of June 30, 2025, the total amount of funds used was RMB 45,742.51 million, with RMB 7,594.61 million remaining unutilized, representing 14.24% of the total raised funds [6][8]. Fund Allocation and Management - The company allocated RMB 421,425,126.40 to investment projects and incurred issuance costs of RMB 5,370,754.73, while earning interest income of RMB 2,652,466.08 [2][4]. - The company has approved the use of RMB 1,800.00 million of excess funds for permanent working capital and RMB 2,439.31 million for the construction of a graphene and synthetic graphite thermal interface material project [3][4]. Project Performance and Benefits - The high-performance thermal conductive product construction project is expected to achieve an average annual net profit of RMB 71.3163 million upon reaching full production capacity [9]. - As of June 30, 2025, the projects are still under construction and have not yet generated measurable benefits [9]. Temporary Fund Management - The company has approved the temporary use of idle funds for cash management, allowing for the purchase of high-security, liquid investment products, with a limit of RMB 300 million for idle raised funds and RMB 150 million for idle self-owned funds [5][6]. Compliance and Reporting - The reports on the use of previously raised funds have been verified by Grant Thornton, confirming that they meet the requirements set by the China Securities Regulatory Commission [1][2].

Summary of Key Points Core Viewpoint - The company intends to use part of the raised funds to provide loans to its wholly-owned subsidiary, Shenzhen Jinghua Zhixin Microelectronics Co., Ltd., to implement its fundraising projects, which aligns with its overall strategic planning and long-term interests [1][8]. Fundraising Basic Situation - The company raised a total of RMB 1,047,987,200.00 by issuing 16.64 million shares at RMB 62.98 per share, with a net amount of RMB 920,537,016.65 after deducting issuance costs [1][2]. Management and Use of Raised Funds - All raised funds have been deposited into a special account approved by the board of directors, and a tripartite supervision agreement has been signed with the sponsor and the supervising bank [2][9]. Fundraising Project Adjustments - The company has made adjustments to its fundraising projects, including extending the implementation period for certain projects to July 2027 and terminating others, such as the "High Precision PGA/ADC Signal Chain Chip Upgrade and Industrialization Project" [3][5]. Loan Provision Details - The company plans to provide a loan of up to RMB 35 million to its subsidiary, Jinghua Zhixin, to ensure the smooth implementation of the "Research and Development Center Construction Project" [5][6]. Loan Management and Usage - The loan will be managed in a dedicated account and can only be used for the specified fundraising projects, with the interest rate based on the latest one-year Loan Prime Rate (LPR) [6][9]. Approval Process - The board of directors approved the loan provision on July 29, 2025, and this decision falls within the board's authority, thus not requiring shareholder approval [7][9]. Sponsor's Verification Opinion - The sponsor has verified that the loan provision complies with relevant regulations and does not harm the interests of the company or its shareholders, ensuring that the fundraising plan remains intact [9][10].

Core Viewpoint - The report provides a comprehensive overview of the fundraising activities and the utilization of funds by Shanghai Aiwei Electronics Technology Co., Ltd. as of June 30, 2025, ensuring compliance with regulatory guidelines and reflecting the company's financial management practices [1][3]. Fundraising Overview - The total amount raised through the public offering was RMB 3,201,044,000, with a net amount of RMB 3,035,261,414 after deducting issuance costs [3]. - The funds were deposited into a designated bank account, with specific details on the account balances and management practices outlined [3]. Fund Utilization - As of June 30, 2025, the company had utilized RMB 2,165,506,800, accounting for 71.34% of the net fundraising amount, with a remaining balance of RMB 984,051,900 [12]. - The company adjusted the investment amount for the "R&D Center Construction Project" from RMB 408.25 million to RMB 218.92 million, reallocating the remaining funds to the "Electronic Engineering Testing Center Construction Project" [4]. Temporary Fund Management - The company approved the temporary use of idle funds, allowing up to RMB 780 million for operational needs, which was fully returned by August 22, 2022 [5]. - A subsequent approval allowed for the use of up to RMB 600 million in idle funds, which was also returned by August 15, 2024 [6][8]. Cash Management - The company engaged in cash management activities, utilizing idle funds for purchasing low-risk financial products, with a total of RMB 250 million allocated for such investments as of June 30, 2025 [12][10]. Project Adjustments and Economic Benefits - The company has made adjustments to project timelines, extending the expected completion date for the "Electronic Engineering Testing Center Construction Project" from August 2024 to March 2026 [4]. - Several projects, including the R&D Center and various chip development initiatives, are still under construction and do not yet generate direct economic benefits [18]. Compliance and Reporting - The report confirms that the actual use of funds aligns with previously disclosed information, ensuring transparency and adherence to regulatory requirements [19].

Summary of Key Points Core Viewpoint The report outlines the usage and management of funds raised by Shanghai Aiwei Electronics Technology Co., Ltd. through its initial public offering, detailing the allocation, changes in investment projects, and the financial status of these funds as of June 30, 2025. Group 1: Fundraising and Management - The company raised a total of RMB 3,035,261,414.64 after deducting issuance costs, with the funds verified by Daixin Accounting Firm [1]. - All raised funds are stored in designated special accounts, with specific balances reported for various bank accounts as of June 30, 2025 [2]. Group 2: Actual Use of Funds - As of June 30, 2025, the company has utilized RMB 216,550.68 million of the raised funds, accounting for 71.34% of the net amount raised [9]. - The remaining funds amount to RMB 98,405.19 million, which will continue to be used for investment projects [9]. Group 3: Changes in Investment Projects - The company approved a reduction in the investment for the "R&D Center Construction Project" from RMB 408.2476 million to RMB 218.9229 million, reallocating the remaining funds to the "Electronic Engineering Testing Center Construction Project" [3][4]. - The completion date for the "Electronic Engineering Testing Center Construction Project" has been extended from August 2024 to March 2026 due to its complexity [4]. Group 4: Temporary Use of Idle Funds - The company has temporarily used up to RMB 78 million of idle funds for operational purposes, with a commitment to return these funds within 12 months [5][6]. - As of August 17, 2023, the company has fully returned RMB 60 million of temporarily used funds to the special account [6]. Group 5: Cash Management of Idle Funds - The company has approved the use of idle funds for cash management, allowing up to RMB 2.6 billion for purchasing safe and liquid financial products [7][8]. - As of June 30, 2025, the balance for cash management products was RMB 250 million, with all unused funds stored in designated accounts [9]. Group 6: Economic Benefits from Investment Projects - The projects funded by the raised capital, including the R&D Center and Electronic Engineering Testing Center, have not yet generated direct economic benefits as they are still under development [11]. - The expected internal rate of return for various projects, such as the smart audio chip and motor driver chip projects, is projected to be around 25.21% and 26.66% respectively [11].

Core Viewpoint - The report confirms that Shanxi Huhua Group Co., Ltd. has accurately reflected the usage of funds raised from its initial public offering as of March 31, 2025, in accordance with the regulations set by the China Securities Regulatory Commission and the Shenzhen Stock Exchange [2][3]. Fundraising Situation - The company raised a total of RMB 368 million from the issuance of 50 million shares, with a net amount of RMB 340.6 million after deducting issuance costs of RMB 70.4 million [3][5]. - The funds were deposited into a special account on September 14, 2020, and the initial balance was RMB 368 million [3]. Actual Usage of Funds - As of March 31, 2025, the total amount of funds used was RMB 22.4 million, with a change in purpose amounting to RMB 22.4 million, representing 65.84% of the total funds raised [5][6]. - The company has terminated several projects, including the Engineering Technology Research Center and the Powdered Emulsified Explosive Production Line, due to changes in market conditions and regulatory requirements [6][7][9]. Project Performance - The company reported that the expanded production line for emulsified explosives has generated a loss of RMB 283.54 million, which is below the expected benefits by over 20% due to increased competition and lower sales prices [12]. - The electronic detonator automation production line project has been delayed, with the first phase completed but not yet operational [11]. Changes in Fund Usage - The company has decided to redirect remaining funds from terminated projects to new initiatives, including the acquisition of a 98.69963% stake in Hebei Tianning Chemical Co., Ltd. [11][12]. - The remaining unused funds as of March 31, 2025, amounted to RMB 19.37 million, representing 5.69% of the total raised funds [11].

Fundraising Overview - The company raised a total of RMB 346.72 million through a non-public offering of 46.63 million shares at RMB 7.50 per share, with net proceeds amounting to RMB 347.20 million after deducting related expenses [1][6] - As of December 31, 2024, the remaining balance of the raised funds in the bank accounts was RMB 67.12 million [1] Fund Utilization - The total amount of raised funds utilized by the company was RMB 294.37 million, with annual usage reported as RMB 104.08 million in 2021 and RMB 70.84 million in 2023 [6] - The company has not changed the purpose of the raised funds, and there are no discrepancies between the actual investment amounts and the committed amounts [1][6] Project Investment and Benefits - The company has not transferred any investment projects funded by the raised capital as of December 31, 2024 [1] - The projects funded include a cloud-based technology center upgrade, a smart legal comprehensive platform, and a smart education comprehensive platform, with a total of RMB 25.49 million used to replace self-raised funds previously invested in these projects [1][3] Financial Management of Idle Funds - The company has approved the use of idle funds for cash management, allowing up to RMB 300 million for purchasing principal-protected financial products, with subsequent approvals for RMB 200 million and RMB 150 million for similar purposes [4][5] Project Performance - The cloud-based technology center upgrade project is a research and development initiative that does not directly generate revenue but enhances the company's R&D capabilities and innovation potential [3] - The company has not reported any projects with cumulative returns below 20% of the promised returns [3]

Fundraising Overview - The company raised a total of RMB 374,800,000.00 from the issuance of 3,840,000 convertible bonds at a face value of RMB 100 each, with the funds deposited on April 24, 2020 [1] - After deducting underwriting and other issuance costs, the net amount raised was RMB 374,350,000.00 [1] - The company also conducted a non-public stock issuance, raising RMB 139,999,987.76, with a net amount of RMB 136,726,402.86 after fees [2] Fund Usage - As of June 30, 2025, the balance in the fundraising account was reported as 0 RMB, indicating that all funds have been utilized [2] - The company has not changed any actual investment projects related to the raised funds [4] Fund Investment and Returns - The company has provided detailed reports on the actual usage of funds from both the convertible bond issuance and the non-public stock issuance, with specific tables attached for reference [4][5] - The company has reported that the investment projects funded by the raised capital have achieved their intended benefits, with detailed performance metrics available in the attached documents [5][10] Idle Funds Management - The company has utilized idle funds temporarily to supplement working capital, with approvals for amounts up to RMB 200 million and subsequent approvals for smaller amounts [6][7][8][9] - The company has committed to returning these funds to the designated accounts within 12 months [6][7][8][9] Project Completion and Fund Settlement - The company has completed several projects funded by the raised capital, including those related to major clients such as Evergrande Group and China Jinmao, with all projects reported as completed and settled [10][12] - The company has proposed to permanently use any remaining funds from completed projects to support ongoing operations [10]

Core Viewpoint - The company has approved the conclusion of the "Guangdong Qingyan High-end Environmental Protection Equipment R&D and Manufacturing Base Project" and will permanently supplement the remaining raised funds into working capital, which aligns with the company's future operational development plans and benefits all shareholders [1][2]. Group 1: Supervisory Board Meeting - The second supervisory board's twelfth meeting was held on July 22, 2025, with all three supervisors present, and the meeting procedures complied with relevant laws and regulations [1]. - The supervisory board unanimously agreed to the proposal regarding the conclusion of the fundraising investment project and the permanent supplementation of remaining funds into working capital, with a vote of 3 in favor, 0 against, and 0 abstentions [2]. Group 2: Use of Surplus Funds - The supervisory board approved the use of part of the surplus funds for the construction of the "Southwest Shale Gas Drilling Wastewater Treatment Project (Phase I)," which is deemed a prudent decision in line with the company's development [2][3]. - This proposal also received unanimous approval with a vote of 3 in favor, 0 against, and 0 abstentions, and it will be submitted to the shareholders' meeting for review [2]. Group 3: Stock Incentive Plan - The supervisory board reviewed and approved the "2025 Restricted Stock Incentive Plan (Draft)" and its summary, which aims to establish a long-term incentive mechanism to attract and retain talent, benefiting the company's sustainable development [3][4]. - The plan's implementation will ensure a balanced value distribution system and create a mechanism for shared interests between shareholders and core talents [4]. - The proposal regarding the list of initial incentive objects was also approved, confirming that the incentive objects meet the qualifications set forth in relevant laws and regulations [4][5].