Group 1 - The company announced that its H-shares will be listed on the Hong Kong Stock Exchange on November 29, 2024, raising approximately HKD 452.50 million [1] - As of November 30, 2025, approximately RMB 100.66 million of the net proceeds from the fundraising has been utilized, with around RMB 320.04 million remaining in licensed financial institutions in China [1] - The company plans to use the raised funds for upgrading production facilities, building marketing networks, and enhancing information technology [1] Group 2 - To improve the efficiency of fund usage, the company has reduced unnecessary expenses while ensuring business quality and operational stability [2] - The board of directors has re-evaluated the fundraising usage timeline, extending some fund usage deadlines to the end of 2027 [2] - A total of RMB 210 million of idle fundraising will be temporarily used to supplement the company's working capital, including RMB 70 million for production facility upgrades, RMB 90 million for marketing network construction, and RMB 50 million for information technology upgrades, with a usage period of one year [2]

Core Viewpoint - The company announced a delay in the expected completion dates for two major investment projects, reflecting a cautious approach to project management and funding utilization in response to industry dynamics and equipment upgrades [1][2]. Group 1: Project Updates - The "Shangqiu Power Diamond Technology Center and Cultivated Diamond Intelligent Factory Construction Project" has a total investment of 2.33 billion yuan, with 2.19 billion yuan planned to be funded through raised capital. As of December 31, 2024, 0.95 billion yuan has been invested [2]. - The "Phase II Diamond and Cultivated Diamond Intelligent Factory Construction Project" has a total investment of 1.72 billion yuan, with 1.49 billion yuan planned to be funded through raised capital. As of December 31, 2024, 0.47 billion yuan has been invested [2]. - The expected completion date for both projects has been adjusted to December 31, 2028, while the total investment amount and project content remain unchanged [1]. Group 2: Management Strategy - The company's board and management are actively promoting project construction while considering the rapid updates in equipment, industry trends, and changing customer demands [1]. - The company aims to enhance the efficiency of raised capital utilization and reduce investment risks by adopting a prudent approach to project execution [1].