Core Viewpoint - The company plans to use part of the raised funds to permanently supplement its working capital, which has been approved by the board and requires shareholder approval [6][5]. Fundraising Basic Situation - The company raised a total of RMB 179,939.98 million through the issuance of 13,250,367 shares at a price of RMB 135.80 per share [2][4]. - The net amount raised after expenses was confirmed by an auditing firm [2]. Investment Project Overview - The total investment for the projects funded by the raised capital is RMB 66,314.44 million, with RMB 66,123.45 million planned to be allocated from the raised funds [3][4]. Plan for Using Excess Funds - The total excess funds amount to RMB 97,029.41 million, with a plan to use RMB 29,000 million for repaying bank loans and permanently supplementing working capital, which is less than 30% of the total excess funds [4][5]. Related Commitments and Explanations - The company commits that the cumulative use of excess funds will not exceed 30% within any 12-month period and that this will not affect the funding needs of the investment projects [5][6]. - The company will not engage in high-risk investments or provide financial assistance to entities outside of its subsidiaries within 12 months after the funds are supplemented [6]. Decision-Making Process - The proposal to use excess funds was approved by the board and requires further approval from the shareholders [6]. - The supervisory board supports the use of excess funds for working capital, stating it will not harm the interests of the company or its shareholders [6]. Sponsor's Review Opinion - The sponsor believes that the decision to use excess funds for working capital has followed necessary procedures and will enhance the efficiency of fund usage without altering the intended use of the raised funds [6].

Business Overview - The company specializes in the R&D, design, production, and sales of precision functional components, automation equipment, and cooling solutions, with applications in smartphones, tablets, laptops, wearables, servers, graphics cards, data center equipment, communication base stations, photovoltaic solar energy, and new energy vehicles [1] - In 2024, the company achieved a revenue of CNY 818.84 million, representing a year-on-year growth of 22.10%, and a net profit attributable to shareholders of CNY 109.72 million, with a growth of 3.65% [1] Production Capacity and Strategy - The overall production capacity utilization rate is maintained at a reasonable level, with stable operations across production bases. The company plans to adjust capacity based on market demand and order growth in the second half of the year [2] - The company is open to potential mergers and acquisitions, focusing on targets that align with its strategic investment plans and enhance its market share and core competitiveness [3] Use of Funds - The company adopts a cautious approach to the use of excess raised funds, planning to invest based on market conditions and strategic needs. Until specific uses are determined, excess funds will be managed to improve efficiency and returns [4] Cooling Business Applications - The cooling business includes various products such as liquid cooling modules and air cooling modules, primarily focusing on servers and consumer electronics, with some involvement in automotive and energy storage applications [5] Customer Orders and Growth - The company reports a healthy order situation for the first half of 2025, with strategies in place to deepen existing customer relationships and explore new application scenarios to drive growth [6][7] Factory Distribution - Production bases are located in Shenzhen, Dongguan, Meizhou, and Huai'an, each with specific focuses to enhance operational efficiency and economic benefits [8] International Expansion - The company has established branches and production bases in the USA, Vietnam, and Thailand, enhancing its global production capabilities and local customer service [9] Share Buyback Plan - The company announced a share buyback plan of CNY 20-30 million at a price not exceeding CNY 62, emphasizing the importance of market conditions and stock price performance in executing this plan [10]

Group 1 - The core point of the announcement is the approval of the acquisition of 100% equity of Chengdu Kaimar Technology Co., Ltd. by the company, which is deemed necessary for the company's operational and strategic development [1][2] - The supervisory board confirmed that the acquisition will be funded by the company's own funds and part of the raised funds, ensuring that it aligns with the company's operational needs and does not harm the interests of the company and its shareholders [1][2] - The transaction price is based on the valuation from an independent third-party asset appraisal agency, and the board believes the pricing is fair and reasonable [1] Group 2 - The supervisory board also approved the use of raised funds and self-owned funds to pay for the equity acquisition, confirming that the procedures comply with relevant regulations and will not affect the normal implementation of the fundraising projects [2] - The voting results for both proposals were unanimous, with 3 votes in favor and no votes against or abstentions, indicating strong support from the supervisory board [2]

Group 1 - The company held the 10th meeting of the 4th Supervisory Board on May 30, 2025, with all three supervisors present, complying with relevant regulations [1][2] - The Supervisory Board approved the proposal to change the use of raised funds, aiming to optimize resource allocation and improve the efficiency of fund usage, which aligns with the company's long-term interests [1][2] - The proposal to use remaining excess raised funds for permanently supplementing working capital and repaying bank loans was also approved, ensuring sufficient funding for investment projects while enhancing profitability [2]

Group 1 - The company held its 17th meeting of the third board of directors on May 28, 2025, where all 9 directors attended, and the meeting complied with relevant laws and regulations [2][4] - The board approved a proposal to use part of the excess raised funds to increase capital for its subsidiary and acquire land and factory buildings [3][10] - The total amount proposed for this use is up to 120 million yuan, with approximately 97.26 million yuan coming from excess raised funds [11][16] Group 2 - The supervisory board also held its 13th meeting on May 28, 2025, with all 3 supervisors present, and the meeting followed legal procedures [6][8] - The supervisory board agreed with the proposal to use part of the excess raised funds for the same purpose, emphasizing that it aligns with the company's operational needs and future strategic direction [7][23] - The proposal was deemed to enhance the efficiency of fund usage and not to conflict with the implementation of the fundraising investment projects [7][24] Group 3 - The company plans to use the funds to participate in the auction for land and factory buildings that are currently leased, which will improve operational continuity and reduce uncertainties related to rental costs [21][22] - The land and factory to be auctioned cover an area of 133,178 square meters, with a building area of 54,445.68 square meters [16][21] - The acquisition is part of the company's long-term strategic planning to ensure stable operations and enhance its market position [21][24]

Core Viewpoint - HeMai Co., Ltd. has significantly advanced its plan to purchase land and build a headquarters building in 2024, raising concerns about potential information disclosure violations due to the timing of announcements [1][3][6]. Group 1: Investment and Financial Details - HeMai plans to acquire the land use rights and ownership of buildings on the Hangzhou site for a total of 5.48 billion yuan, with an estimated total construction investment not exceeding 10.7 billion yuan [1][3]. - As of the end of 2024, HeMai's balance sheet shows the "Headquarters Building" project with a book value of 6.54 billion yuan, despite the company not announcing the project until April 29, 2025 [1][3][6]. - The company has raised 54.06 billion yuan through its IPO, with 48.48 billion yuan being excess funds, of which 26.7 billion yuan remains uninvested as of the end of last year [2][8]. Group 2: Funding Sources and Usage - HeMai states that the funding for the headquarters construction will come from self-raised and own funds, despite market speculation that it may primarily use excess IPO funds [2][6]. - As of the end of the first quarter, HeMai's monetary funds reached 37.72 billion yuan, which is sufficient to cover the construction costs of the headquarters building [2][6]. - The company has allocated 14.35 billion yuan of excess funds for working capital, with additional plans to supplement working capital by nearly 7.3 billion yuan this year [2][8]. Group 3: Market Reactions and Concerns - The market has raised questions about whether HeMai's actions constitute a violation of information disclosure regulations, given that the land purchase occurred before the official announcement [1][3][6]. - Investors are particularly concerned about the transparency of the funding sources for the headquarters project, as a significant portion of the excess funds has been used for working capital rather than for production-related investments [8][9].

Group 1 - The company HeMai Co., Ltd. announced the investment in the construction of a new headquarters building to meet future development needs and optimize resource allocation [1] - HeMai Shenghe, a wholly-owned subsidiary of HeMai Co., Ltd., purchased the land use rights and ownership of buildings from Sina Jifu Technology Development (Hangzhou) Co., Ltd. for a total amount of RMB 548,014,183.71 [1] - The total investment for the construction project is expected to be no more than RMB 1.07 billion, funded by self-owned and self-raised funds [1] Group 2 - HeMai Co., Ltd. was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on December 20, 2021, with an issue price of RMB 557.80 per share and a total of 10 million shares issued [2] - The total amount raised from the initial public offering (IPO) was RMB 5.578 billion, with a net amount of RMB 5.406 billion after deducting issuance costs [2] - The company plans to use the raised funds for projects including the HeMai Intelligent Manufacturing Base, energy storage inverter industrialization, and upgrading of smart electrical equipment [2] Group 3 - The total issuance costs for the IPO were RMB 172 million, including underwriting and sponsorship fees of RMB 142 million [3] - The company announced dividend plans in 2022, 2023, and 2024, with varying amounts per 10 shares and stock bonuses [3]