Core Viewpoint - The company has conducted a supervisory meeting to approve the use of temporarily idle raised funds for cash management and to replace self-raised funds with raised funds for issuance-related expenses, ensuring compliance with relevant regulations [1][2]. Group 1: Cash Management - The supervisory board approved the use of temporarily idle raised funds for cash management, which is expected to enhance the efficiency of fund utilization and generate investment returns for the company and its shareholders [1]. - The decision followed necessary review procedures and is deemed legal and compliant, with no adverse impact on shareholder interests, particularly for minority shareholders [1]. Group 2: Fund Replacement - The supervisory board also approved the replacement of self-raised funds with raised funds for issuance-related expenses, with the replacement occurring within six months of the funds being received [2]. - This action is considered compliant with regulations and will not affect the normal use of the raised funds, ensuring no change in the intended use that could harm shareholder interests [2].

Summary of Key Points Core Viewpoint - The report from CITIC Securities provides a thorough examination of Suzhou Huazhi Jie Telecommunications Co., Ltd.'s use of raised funds to replace previously paid issuance expenses, confirming compliance with relevant regulations and ensuring no detriment to shareholder interests [1][6]. Group 1: Fundraising Overview - The company successfully issued 25,000,000 shares at a price of RMB 19.88 per share, raising a total of RMB 444,164,357.75, with a net amount of RMB 444,164,357.75 after deducting issuance costs [2][3]. - The funds raised are to be fully allocated to investment projects as outlined in the company's prospectus, with total project investment amounting to RMB 486,085,800 [2][4]. Group 2: Fund Allocation and Adjustments - Due to the actual net amount raised being lower than the planned investment, the company will adjust the allocation of funds while maintaining the intended use, with the shortfall to be covered by self-raised funds [2][4]. - The company pre-paid issuance expenses amounting to RMB 5,519,600 using self-raised funds [3][4]. Group 3: Compliance and Verification - The board and supervisory committee approved the use of raised funds to replace previously paid expenses, confirming adherence to regulatory requirements [4][5]. - The accounting firm Tianjian provided verification, affirming that the company's actions comply with the relevant regulations and accurately reflect the situation regarding the pre-paid expenses [5][6].

Core Points - The company has announced the use of raised funds to replace previously paid issuance expenses amounting to 5.5196 million yuan (excluding VAT), which complies with the regulation of replacement within six months after the funds are received [1][2][3] Fundraising Overview - The China Securities Regulatory Commission approved the company's initial public offering (IPO) on April 9, 2025, allowing the company to issue 25 million shares at a price of 19.88 yuan per share, raising a total of 497 million yuan [1][2] - After deducting issuance expenses, the net amount raised was 444.164 million yuan, which is lower than the total planned investment of 486.0858 million yuan for the fundraising projects [2][3] Investment Project Adjustments - The company held board and supervisory meetings on July 16, 2025, to adjust the planned investment amounts for the fundraising projects without changing the intended use of the funds [2][3] - The total investment for the projects remains at 48,608.58 million yuan, with the adjusted amount for the raised funds set at 44,416.44 million yuan [2] Compliance and Verification - The board and supervisory meetings confirmed that the use of raised funds to replace paid issuance expenses adheres to relevant regulations and does not affect the normal implementation of fundraising projects [3][4] - The accounting firm Tianjian provided verification that the company's management's report on the prepayment of issuance expenses aligns with regulatory requirements [4][6]

Group 1 - The core viewpoint of the article is that Citic Securities has conducted a verification of the use of raised funds by Ying Shi Innovation Technology Co., Ltd. to replace self-raised funds that were pre-invested in fundraising projects and already paid issuance expenses [1][5] - The total amount of funds raised in the initial public offering (IPO) is 1,938.07 million RMB, with a net amount of 1,747.77 million RMB after deducting issuance expenses [1][2] - The company has signed a fundraising supervision agreement with the sponsor and the commercial bank where the raised funds are stored, ensuring proper management of the funds [2] Group 2 - The investment projects funded by the raised funds include the construction of an intelligent imaging equipment production base and the establishment of a research and development center in Shenzhen, with a total investment scale of 463.78 million RMB [3] - The company has pre-invested a total of 205.87 million RMB in fundraising projects using self-raised funds, which will be replaced by the raised funds [3][4] - The total amount of self-raised funds to be replaced for pre-invested projects and paid issuance expenses is 209.32 million RMB, with 195.43 million RMB for projects and 13.89 million RMB for issuance expenses [4][5] Group 3 - The company has completed the necessary procedures for the use of raised funds, which have been approved by the board of directors and the supervisory board, and verified by the accounting firm [5] - The verification report from the accounting firm confirms that the use of raised funds complies with relevant regulations and the company's fundraising management system [5]

Group 1 - The company held the 12th meeting of the 4th Supervisory Board on July 8, 2025, with all three supervisors present, complying with the company's articles of association and relevant laws [1][2] - The Supervisory Board approved the proposal to use self-owned funds to pay part of the fundraising project expenses and to replace it with an equivalent amount of raised funds, which is expected to improve the efficiency of fund usage and align with the interests of the company and its shareholders [1][2] - The decision will not affect the normal progress of the fundraising investment projects and complies with relevant regulations, ensuring no harm to shareholder interests [1][2]

Core Viewpoint - The company, Shenzhen Xinyuren Technology Co., Ltd., is utilizing its own funds to pay for fundraising project expenses and will subsequently replace these with equivalent amounts from the raised funds, ensuring compliance with regulatory requirements and maintaining project efficiency [1][2][4]. Fundraising Overview - The company has successfully completed its initial public offering (IPO) of 24,438,597 shares at a price of RMB 23.68 per share, raising a total of approximately RMB 578.71 million. After deducting issuance costs of about RMB 72.51 million, the net proceeds amount to approximately RMB 506.20 million [1][2]. - The total investment for the fundraising projects is RMB 618.52 million, with RMB 462.25 million allocated from the raised funds [1]. Fund Utilization and Replacement Process - The company has opted to use its own funds for certain project expenses, particularly for land purchases, due to tax payment requirements that necessitate using a specific account not linked to the fundraising account. This approach allows for timely payments while ensuring that the raised funds are eventually used to reimburse these expenses [1][2]. - The process involves the company’s relevant departments preparing detailed payment records, followed by internal approvals, and then transferring equivalent amounts from the fundraising account to the company’s general account [2][4]. Impact on Company Operations - The decision to use self-funds for project expenses and later replace them with raised funds is expected to enhance the efficiency of fund utilization and project implementation, ensuring that the projects proceed smoothly without altering the intended use of the raised funds [4][5]. Approval and Oversight - The board of directors approved the use of self-funds for project expenses with a unanimous vote, and the supervisory board expressed agreement, confirming that this action does not affect the normal operation of the fundraising projects or violate any regulatory requirements [5][6]. - The sponsoring institution, Minsheng Securities, has conducted a review and found that the company has adhered to necessary procedures and regulations regarding the use of funds [6].

Group 1 - The company, Sichuan Hongda Co., Ltd., has raised a total of RMB 2,834,758,430.19 through the issuance of 609,600,000 shares at a price of RMB 4.68 per share, as approved by the China Securities Regulatory Commission [1] - The raised funds will be used to repay debts amounting to RMB 134,751.11 million and to supplement working capital with RMB 150,541.69 million [2] - The company has pre-invested RMB 96,541.50 million of its own funds to address debt issues before the raised funds were available, which it plans to replace with the raised funds [2][3] Group 2 - The total issuance costs amount to RMB 1,816.96 million, of which RMB 52.36 million has been paid using self-raised funds, and this amount will also be replaced with the raised funds [2] - The board of directors and the supervisory board have approved the use of raised funds to replace pre-invested self-raised funds, confirming compliance with relevant regulations [4] - The sponsor, CITIC Securities, has verified that the company’s actions comply with legal requirements and do not harm shareholder interests [4]

Core Viewpoint - Tianyu Biological Technology Co., Ltd. has announced the use of its own funds to pay for part of the fundraising investment project and will replace it with an equivalent amount of raised funds, ensuring the smooth implementation of the project without affecting the interests of shareholders [1][8][11]. Fundraising Basic Situation - The company raised a total of RMB 402.27 million by issuing 48.35 million shares at a price of RMB 8.32 per share, with a net amount of RMB 393.87 million after deducting issuance costs [1]. Fundraising Investment Project Situation - The company adjusted its fundraising usage plan due to the net amount being less than initially planned, with the project "Tianchang Longgang Red Cultural Tourism Scenic Area Engineering General Contracting Project" extended to be operational by December 2025 [3]. Reasons and Process for Using Own Funds - The company faced difficulties in directly using raised funds for certain payments, such as wages for migrant workers, which necessitated the use of its own funds initially, followed by a replacement with raised funds [5][6]. Impact on the Company - The decision to use self-funds for part of the project payments will not affect the normal implementation of the fundraising project and will not change the direction of the raised funds or harm the interests of shareholders [8][10]. Review Procedures and Opinions - The board of directors and the supervisory board have approved the use of self-funds and the subsequent replacement with raised funds, confirming that the decision aligns with the interests of the company and shareholders [9][10].

Summary of Key Points Core Viewpoint - The company intends to use raised funds to replace pre-invested self-raised funds for investment projects and expenses related to the issuance of shares, following necessary legal procedures and approvals [7][8]. Group 1: Fundraising Overview - The company has been approved to issue 45,312,900 shares at a price of RMB 11.50 per share, raising a total of RMB 521.0984 million, with a net amount of RMB 460.6722 million after deducting issuance costs [1][2]. - The total issuance costs amounted to RMB 60.4262 million (excluding VAT), with the net funds available for investment being lower than initially disclosed in the prospectus [2][3]. Group 2: Investment Project Adjustments - The total investment for the projects was adjusted from RMB 748.3020 million to RMB 612.3020 million, with the actual amount to be invested from the raised funds being RMB 460.6722 million [3][4]. - The company has made adjustments to the investment amounts for specific projects to ensure efficient use of the raised funds [2][3]. Group 3: Pre-Investment and Issuance Costs - The company has pre-invested a total of RMB 17.57628 million in the investment projects and has incurred issuance costs of RMB 12.9532 million, which will be replaced by the raised funds [5][6]. - The issuance costs include RMB 31.9541 million for underwriting and advisory fees, which have already been deducted from the total raised funds [6]. Group 4: Approval and Compliance - The board of directors and the supervisory board have approved the use of raised funds for replacing pre-invested amounts, and the process complies with relevant regulations [7][8]. - The accounting firm has issued a report confirming that the company's actions align with regulatory requirements and accurately reflect the situation regarding the use of funds [7].

Meeting Overview - The third meeting of the third Supervisory Board of the company was held with all three supervisors present, complying with relevant regulations and company rules [1]. Financial Management Proposals - The Supervisory Board approved the proposal to use part of the temporarily idle self-owned funds for entrusted financial management, with a limit of up to RMB 2,000 million, which is expected to enhance the efficiency of fund usage and generate investment returns [1][2]. - The proposal to use part of the temporarily idle over-raised funds for cash management was also approved, with a limit of up to RMB 94.2 million, ensuring compliance with regulatory requirements and not affecting the normal implementation of fundraising projects [2][3]. - The board approved the use of self-owned funds to pay for the required funds of fundraising projects, with an equivalent replacement of the raised funds, which is expected to improve the efficiency of fund usage without altering the intended use of the raised funds [3][4].