Core Viewpoint - Nanjing Gaohua Technology Co., Ltd. has announced a postponement of the completion date for its fundraising project, "Gaohua Production Testing Center Construction Project," to December 31, 2026, without changing the project implementation entity, fundraising purpose, or investment scale [1][5]. Fundraising Basic Information - The company raised a total of RMB 1,268.90 million through its initial public offering (IPO) by issuing 33.2 million shares at a price of RMB 38.22 per share, with a net amount of RMB 1,165.53 million after deducting issuance costs [1][2]. Fundraising Usage Status - As of October 31, 2025, the company has provided an update on the usage of the funds raised from the IPO [2]. Reasons for Project Postponement - The postponement is due to several factors: 1. The phase completion acceptance process took longer than expected, with the main structure completed in July 2025, followed by various regulatory inspections [2][3]. 2. Subsequent construction work, including fine decoration and equipment installation, requires further development, with a projected timeline from December 2025 to December 2026 [3]. 3. Compliance procedures are necessary to ensure the project's long-term safety and stability, adhering to industry regulations and internal quality control standards [4]. Impact of Postponement on the Company - The decision to postpone the project is based on the actual progress and is deemed prudent, with no changes to the project implementation entity, fundraising purpose, or investment scale, ensuring no adverse effects on the company's operations [4][5]. Review Procedures and Opinions - The board of directors approved the postponement during a meeting on November 28, 2025, confirming that the decision aligns with the current project progress and adheres to regulatory requirements [5][6].

Core Viewpoint - Suqian Liansheng (603065.SH) announced a delay in the completion of its new materials project due to changes in market conditions and slowed construction progress, pushing the expected operational date from December 2025 to December 2026 [1] Group 1: Project Details - The project aims to produce 12,000 tons of light stabilizers, 5,000 tons of anti-precipitation agents, and 15,000 tons of dimethyl sebacate [1] - As of September 30, 2025, the project has utilized 348.48 million yuan of raised funds, accounting for 74.68% of the planned total investment [1] Group 2: Market Conditions - The primary reason for the delay is the low market price of light stabilizer 770, coupled with the company's annual capacity utilization rate for hindered amine light stabilizers being only 57.35% [1] - The current market environment makes it difficult to achieve the expected economic benefits from the second-phase project, which includes dimethyl sebacate as a key intermediate for light stabilizer 770 [1] Group 3: Historical Context - The project was previously delayed in 2023 due to construction issues stemming from macroeconomic conditions and was further postponed in 2024 due to the downturn in the chemical industry [1]

Core Viewpoint - The company has decided to postpone the completion date of its fundraising project from December 2025 to December 2026 due to market conditions and project implementation status, while maintaining the investment amount and purpose unchanged [1][4][7]. Fundraising Basic Information - The company raised a total of RMB 538.415 million through its initial public offering, with a net amount of RMB 466.627 million after deducting issuance costs [1]. - The funds have been fully received and are stored in a dedicated account as per regulatory requirements [1]. Fundraising Project and Usage - As of September 30, 2025, the company has made progress on its fundraising projects, with the first phase nearly completed and operational, while the second phase is still under construction [2][4]. - The first phase involves the production of light stabilizers and intermediates, while the second phase focuses on producing the main intermediate, dimethyl sebacate [4]. Reasons for Postponement - The postponement is attributed to various factors, including macroeconomic conditions, supply chain disruptions, and intensified market competition, which have delayed project progress [2][3][4]. - The company has previously postponed the project completion date due to similar reasons, with the latest adjustment being the third postponement [10]. Measures to Ensure Completion - The company plans to closely monitor market conditions and raw material prices, enhance project management, and ensure effective use of funds to meet the new timeline [6][7]. Impact on Company Operations - The postponement is not expected to materially affect the project's implementation or the company's normal operations, aligning with long-term development goals and shareholder interests [7][10]. Approval Process - The board of directors approved the postponement during a meeting on November 19, 2025, and the decision does not require shareholder approval [8][18].

登录新浪财经APP 搜索【信披】查看更多考评等级 广东思泉新材料股份有限公司（以下简称"思泉新材"）前次募集资金投资的两大项目近日确定延期。公 司公告显示，"高性能导热散热产品建设项目(一期)"与"新材料研发中心建设项目"原计划于2025年10月 18日达到预定可使用状态，现均延长至2026年10月18日。致同会计师事务所核查后认为，项目延期系公 司基于实际情况作出的审慎决策，具有合理性，且前次募集资金整体投入进度已达90.82%。 由于前次募投项目主体厂房已建设完成但项目尚未完全达产，公司将部分暂时闲置房产对外出租。截至 2025年9月30日，出租情况如下： 对全资及控股子公司出租面积合计31,607.79平方米，占募投项目总建筑面积（70,807.16平方米）的 44.64%，主要包括办公楼、厂房（14,950.51平方米，占比21.11%）及餐厅、宿舍等配套设施 （16,657.28平方米，占比23.52%），系集团内部分工管理需要。 对合并报表范围外公司出租面积合计7,304.11平方米，占总建筑面积的10.32%，其中办公楼、厂房 3,758.11平方米（占比5.31%），配套设施3,546.00平 ...

Core Viewpoint - The company has decided to postpone the timeline for the completion of its fundraising projects to December 2027, based on a comprehensive assessment of its operational needs and external environment changes [1] Group 1: Project Details - The company will adjust the timeline for the "Information Technology Construction Project" and the "Chinese Herbal Medicine Slice Production Capacity Expansion Project" to be operational by December 2027 [1] - The decision to delay does not alter the content, total investment, implementation entity, or location of the fundraising projects [1] Group 2: Impact Assessment - The postponement is a prudent decision made in consideration of the company's actual operational situation and investment planning [1] - The delay is not expected to have a significant adverse impact on the implementation of the fundraising projects or the company's normal operations [1]

Core Viewpoint - The company announced that it has raised a net amount of 466.6271 million yuan from its initial public offering, with a significant portion of the funds allocated to investment projects, but is facing delays in project timelines due to market conditions [1] Group 1: Fundraising and Investment - The actual net amount raised from the initial public offering is 466.6271 million yuan [1] - As of September 30, 2025, the cumulative investment in projects is 348.4799 million yuan, representing an investment ratio of 74.68% [1] Group 2: Project Delays - The timeline for the project "annual production of 12,000 tons of light stabilizers, 5,000 tons of anti-polymerization agents, and 15,000 tons of dimethyl sebacate series new materials" has been postponed from December 2025 to December 2026 [1] - This marks the third delay for the project, which has been approved by the board of directors and has received no objections from the sponsoring institution [1] - The company has highlighted risks associated with the project's progress not meeting expectations due to intense market competition, low product prices, and underutilization of capacity [1]

董事会会议审议通过募投项目延期议案 浙江泰坦股份有限公司（证券简称：泰坦股份，证券代码：003036；债券简称：泰坦转债，债券代码： 127096）于2025年11月20日披露第十届董事会第十五次会议决议公告，宣布审议通过《关于部分募集资 金投资项目延期的议案》，同意将"杭州研发中心建设项目"达到预定可使用状态的日期延长至2026年5 月。 会议召开及表决情况 公告显示，本次董事会会议通知于2025年11月14日以专人送达及电子邮件方式发出，会议于2025年11月 19日在公司会议室现场召开。会议由董事长陈宥融先生主持，应出席董事9人，实际出席董事9人，公司 全体高级管理人员列席会议。会议召集、召开及表决程序符合《公司法》及《公司章程》规定。 针对募投项目延期议案，与会董事以9票同意、0票反对、0票弃权的表决结果一致通过。据了解，本次 项目延期系根据募投项目实际进展情况作出的调整，具体内容可参见公司同日披露的《关于部分募集资 金投资项目延期的公告》（公告编号：2025-059）。 备查文件说明 本次董事会决议的备查文件为《第十届董事会第十五次会议决议》，投资者可通过《证券时报》《中国 证券报》《上海证券报》《 ...

Core Viewpoint - The announcement reveals that Jiarong Technology (301148.SZ) is planning to acquire control of Hangzhou Lanran Technology Co., Ltd. through a share issuance, which may constitute a significant asset restructuring. However, both companies face compliance and operational challenges, raising concerns about the feasibility of this acquisition [1][3]. Group 1: Acquisition Details - Jiarong Technology has signed a preliminary agreement to acquire all shares of Hangzhou Lanran from its major shareholders, with the final transaction price to be determined by an asset evaluation report [3]. - Hangzhou Lanran previously attempted an IPO but withdrew due to regulatory issues, including financial misreporting and internal control violations [3][4]. - The company was found to have concealed project acceptance documents and misclassified operating costs as R&D expenses, leading to significant discrepancies in reported revenues [4][5]. Group 2: Jiarong Technology's Challenges - Jiarong Technology has faced multiple delays in its core fundraising projects since its IPO three years ago, with less than 50% of the planned investment completed [6][8]. - The company has postponed the implementation timelines for several key projects, including the "R&D Center Construction Project" and "High-Performance Membrane Material Industrialization Project," now expected to be completed by December 2027 [7]. - Financial performance has been declining, with revenues dropping from a peak of 7.56 billion yuan in 2022 to an estimated 3.62 billion yuan in the first three quarters of 2025, and net profits have not recovered to pre-IPO levels [9].

Core Viewpoint - Marco Polo, known as the "first tile stock," has announced significant delays in its five major projects, now expected to reach operational status by December 2027, which were initially scheduled to be completed before the company's IPO [1][10]. Group 1: Project Delays and Adjustments - The company has postponed the completion dates of its five major projects, which were originally set to be operational by March 2025 and March 2024, respectively, now pushed to December 2027 [10]. - The adjustments in project timelines were not disclosed in the prospectus prior to the IPO, raising concerns about transparency [11]. - The company cited macroeconomic conditions and strategic planning changes as reasons for the delays, indicating a cautious approach to investment project timelines [10]. Group 2: Fundraising and Financial Performance - Marco Polo reduced its fundraising target multiple times, from an initial 40.18 billion yuan to 16.43 billion yuan at the time of the IPO, representing a decrease of over 34% [5][6]. - The actual net proceeds from the IPO were 15.6 billion yuan after deducting issuance costs [5]. - The company's revenue and net profit have been on a downward trend from 2021 to 2024, with a reported revenue of 49.38 billion yuan in the first nine months of 2025, a year-on-year decline of 10.2% [11].

Meeting Overview - The ninth board meeting of Tibet Tourism Co., Ltd. was held on October 30, 2025, via communication, with all 9 directors present [2] - The meeting was chaired by Chairwoman Hu Xiaofei and complied with relevant regulations [2] Resolutions Passed - The board approved the extension of the implementation period for certain fundraising projects, specifically the upgrade of the Rulang Flower Sea Ranch scenic area, from October 2025 to October 2026 due to construction impacts from the G318 national highway improvement project [3][11] - A proposal to convene a temporary shareholders' meeting was also approved to discuss the aforementioned extension [4] Fundraising Project Details - The company raised a total of 581.03 million yuan through a non-public stock issuance in 2017, with a net amount of 569.61 million yuan after expenses [7] - As of September 30, 2025, the unused balance of the raised funds was 322.17 million yuan, with 60 million yuan temporarily used for financial management [7] Project Implementation Status - The extension of the Rulang Flower Sea Ranch project is a response to regional construction impacts, allowing the company to better assess project opportunities and optimize implementation plans [9][10] - The company aims to align with local government tourism development strategies and enhance its core business advantages while contributing to rural revitalization efforts [10] Impact of the Extension - The extension does not constitute a substantive change to the fundraising projects, as the investment content and implementation entities remain unchanged [11] - The decision is based on prudent judgment and will not adversely affect the company's normal operations or shareholder interests [12]