Core Points - The company held its 12th meeting of the second board on August 28, 2025, where several key resolutions were passed [1][2][3] Group 1: Financial Reporting - The board approved the full and summary report for the first half of 2025, which had been reviewed by the audit committee prior to the meeting [1][2] - The voting results for the financial report were unanimous, with 5 votes in favor and no opposition [2][3] Group 2: Capital and Structural Changes - The board approved a proposal to change the company's registered capital, type, and business scope, along with amendments to the company’s articles of association, following its IPO and listing on the Shenzhen Stock Exchange [2][3] - This proposal requires approval from the upcoming temporary shareholders' meeting [3] Group 3: Fund Management - The board agreed to postpone investment projects and use excess raised funds for ongoing projects, ensuring that the changes do not affect the project's implementation or harm shareholder interests [3][4] - The board also approved the use of raised funds to replace self-raised funds previously invested in projects, complying with relevant regulations [5][6] Group 4: Governance and Meetings - The board approved the use of self-owned funds for project payments, which will later be replaced by raised funds, ensuring smooth project progress [6] - The board made amendments to various governance systems to enhance corporate governance and promote sustainable development [7] - A temporary shareholders' meeting is scheduled for September 18, 2025, to discuss several of the approved proposals [7]

Summary of Key Points Core Viewpoint - The company is postponing its fundraising project deadlines and reallocating excess funds to ongoing projects to enhance operational efficiency and ensure the effective use of raised capital [1][3][8]. Fundraising Overview - The total amount raised from the initial public offering (IPO) was approximately RMB 617.35 million, with a net amount of RMB 550.62 million after deducting issuance costs [1][2]. - The company has established special accounts for managing the raised funds, ensuring compliance with regulatory requirements [1][2]. Project Delay Details - The company has decided to adjust the expected completion dates for all fundraising projects to December 2026, while maintaining the original project scope and funding allocation [3][4]. - The delay is attributed to longer installation and debugging periods for automated production lines, as well as fluctuations in market demand [3][4]. Impact of Delay - The postponement is a strategic decision that will not adversely affect the implementation of the projects or the company's normal operations, and is expected to enhance the effective use of funds [3][4][8]. - The company aims to ensure high-quality project execution and long-term healthy development through this delay [3][4]. Use of Excess Funds - The company plans to allocate approximately RMB 90.62 million of excess funds (including interest) to the "Hankao Smart Home Hardware Automation Manufacturing Base Project" [4][5]. - This project aims to improve production capacity and efficiency by introducing advanced equipment and information systems [4][5][6]. Project Investment and Returns - The total investment for the automation manufacturing base project is estimated at RMB 561.17 million, with an expected internal rate of return of 20.07% and a payback period of approximately 6.94 years [6][7]. - The project will significantly enhance the company's production capabilities and meet growing market demands [6][7]. Governance and Approval - The board of directors and the supervisory board have approved the project delays and the use of excess funds, confirming that these actions align with regulatory requirements and the company's interests [7][8]. - The sponsor institution, Guotai Junan Securities, has also expressed no objections to the proposed changes [8].