Fundraising Overview - The company raised a total of RMB 3,875,400,498.30 through a public offering of shares in 2018, with a net amount of RMB 3,828,017,156.35 after deducting issuance costs [1][2] - In 2019, the company issued convertible bonds totaling RMB 5,000,000,000.00, with a net amount of RMB 4,955,482,500.00 after costs [1][2] - The 2021 convertible bond issuance raised RMB 7,000,000,000.00, with a net amount of RMB 6,965,312,200.00 after costs [2][14] Fund Utilization - As of June 30, 2025, the company directly invested RMB 2,682,031,851.17 from the 2018 share offering into projects, with a remaining balance of RMB 149,521,267.27 [1][7] - From the 2019 convertible bonds, RMB 4,157,470,269.22 was directly invested in projects, leaving a balance of RMB 173,136,866.70 [2][11] - The 2021 convertible bond funds saw RMB 4,579,092,944.99 allocated to projects, with a remaining balance of RMB 2,198,867,891.05 [2][14] Fund Management - The company has established a three-party supervision agreement for managing the special fundraising accounts, ensuring compliance with regulations [2][3] - The management of funds is subject to oversight by the appointed sponsor, which includes regular audits and checks on fund usage [3][4] - The company has adhered to the regulations regarding the storage and use of raised funds, with effective execution of the management agreements [2][8]