Core Points - Ningbo Jiangfeng Electronic Materials Co., Ltd. held its 28th meeting of the 4th Board of Directors on November 21, 2025, where it approved the proposal for the postponement of fundraising investment projects and adjustments to internal investment structure [1][2] - The meeting was attended by all 9 directors, with 3 present in person and the rest participating via communication [1] - The company plans to adjust the expected usable status dates for three fundraising projects related to semiconductor materials [1][2] Project Adjustments - The projects affected include: - "Annual production of 52,000 ultra-high purity metal sputtering targets for integrated circuits" - "Annual production of 18,000 ultra-high purity metal sputtering target production line renovation project" - "Ningbo Jiangfeng Electronic Semiconductor Materials R&D Center construction project" [1][2] - The adjustments aim to ensure proper implementation of the projects and improve the efficiency of fundraising [2] Compliance and Approval - The adjustments are in line with the company's overall planning and comply with regulations from the China Securities Regulatory Commission and Shenzhen Stock Exchange regarding the use of raised funds [2] - The proposal received unanimous approval from all board members, with 9 votes in favor and no opposition or abstentions [2]

Group 1 - The company held its second extraordinary general meeting on November 14, 2025, where it approved the cancellation of the supervisory board, increased the number of board seats, and revised the Articles of Association [2][13] - Wang Binchao was elected as the employee director of the third board of directors, with a term lasting until the end of the current board's term [2][5] - The board of directors now consists of 9 members, including 1 employee director, complying with relevant laws and regulations [2][3] Group 2 - The third board of directors' fourth meeting was held on November 14, 2025, where the adjustment of the audit committee members was approved [3][8] - The audit committee now includes Liu Shujin as the chairman, Xu Lin, and Wang Binchao [3][9] - The meeting was attended by all 9 directors, and the resolutions passed were deemed legal and effective [7][8] Group 3 - The company approved an investment of 323.2079 million yuan for the construction of a "High-Precision and Intelligent Pharmaceutical Industrialization Project" through its wholly-owned subsidiary [10] - The project is expected to be completed by April 2028 [10]

Group 1 - The company will hold its second extraordinary general meeting of shareholders in 2025 on September 29, 2025, at 14:30 [3][10] - The meeting will combine on-site and online voting methods, allowing shareholders to participate through the Shenzhen Stock Exchange trading system and internet voting system [4][5] - The record date for shareholders eligible to attend the meeting is September 23, 2025 [6][7] Group 2 - The board of directors approved a proposal to apply for an increase in the comprehensive credit limit of up to RMB 60 million [29][48] - The company plans to use the funds for normal operational needs, including various financial instruments such as bank loans and bills [48] - The board also approved the adjustment of the investment scale for a specific fundraising project, which will now be concluded, and the remaining funds will be permanently supplemented into working capital [39][43]

Core Viewpoint - Shanghai Medicilon Biomedicine Co., Ltd. plans to terminate certain fundraising projects and redirect the remaining funds to new projects, permanently supplement working capital, and continue to store funds in a special account [1][27]. Group 1: Fundraising and Project Termination - The total amount raised by the company as of August 4, 2023, is RMB 1 billion, with a net amount of RMB 985.29 million after deducting fees [7][10]. - The terminated project is the "North Shanghai Biomedicine R&D Innovation Industrial Base Project," which was intended to enhance drug discovery capabilities but is no longer aligned with market demands [11][12]. - The remaining funds of RMB 289.90 million will be allocated as follows: RMB 40 million for increasing capital in MEDICILON USA CORP, RMB 160 million for working capital, and RMB 89.90 million will remain in the special account [12][13]. Group 2: New Project Overview - The new project involves establishing an "Overseas Marketing and R&D Center" in the U.S. to enhance the company's international presence and service capabilities [13][20]. - The project aims to leverage existing overseas sales and R&D teams to expand the company's market influence and improve customer service efficiency [13][19]. - The company has already established a 2,000 square meter R&D office in Boston, which will serve as a strategic hub for this initiative [20][22]. Group 3: Industry Context and Growth Potential - The global pharmaceutical market is expected to grow steadily, driven by increasing R&D investments, with global R&D spending projected to rise from USD 260.6 billion in 2023 to USD 359.2 billion by 2028, reflecting a CAGR of approximately 6.6% [16][17]. - The CRO (Contract Research Organization) industry is experiencing growth, with increasing demand for outsourced R&D services, which is expected to enhance the market penetration of CROs from 49.2% in 2023 to 58.2% by 2028 [20][21]. - The domestic CRO industry is evolving rapidly, with companies actively seeking to expand internationally and improve their service capabilities to meet global standards [17][22].

Meeting Details - The fourth meeting of the ninth Supervisory Board of Ningbo Jintian Copper Industry (Group) Co., Ltd. was held on August 29, 2025, with all three supervisors present, confirming the legality and validity of the meeting procedures [1]. Proposal Review - The Supervisory Board approved the proposal to change part of the fundraising investment projects, specifically altering the original project of "annual production of 70,000 tons of precision copper alloy bars" to "annual production of 10,000 tons of double-zero grade ultra-fine copper conductors" and "450 copper alloy strip production line renovation and upgrade project" [1][2]. - The change involves a total fundraising amount of RMB 266.8593 million, accounting for 18.47% of the total net fundraising amount from the "Jintian Convertible Bonds" [1]. Fund Utilization Plan - The new projects will be implemented by the company's wholly-owned subsidiary, Ningbo Jintian High Conductivity New Materials Co., Ltd. The company plans to provide interest-free loans to the project implementer for the "annual production of 10,000 tons of double-zero grade ultra-fine copper conductors," with a total amount not exceeding RMB 134.8593 million [2]. - The Supervisory Board believes that the changes are necessary adjustments based on the fundraising project situation and the company's operational development plan, which will enhance the efficiency of fundraising utilization [2]. Voting Results - The proposal received unanimous approval with 3 votes in favor, 0 against, and 0 abstentions, and it will be submitted to the shareholders' meeting for further review [3].

Core Viewpoint - The company plans to use part of the surplus raised funds for other investment projects and to postpone certain investment projects, which aligns with its strategic development and aims to enhance the efficiency of fund utilization [1][10][11]. Fundraising Basic Situation - The company raised a net amount of RMB 800.48 million from its initial public offering of 34,020,000 shares, with all funds accounted for and managed in a dedicated account [1][2]. - The funds were subject to strict regulatory oversight as per relevant guidelines from the China Securities Regulatory Commission and the Shanghai Stock Exchange [1][10]. Investment Project Situation - Due to the net amount raised being lower than initially planned, the company adjusted the investment amounts for its projects to ensure efficient use of funds [2][5]. - The company has terminated certain projects, including the "In Vitro Diagnostic Product R&D and Industrialization Project (Phase I)" as of April 2024, and has made adjustments to other projects [2][5][9]. Use of Surplus Funds - The company intends to allocate RMB 60 million of the surplus funds towards the "In Vitro Diagnostic Product R&D Project," focusing on international market expansion and collaboration with Quanterix Corporation for advanced detection technologies [5][9]. - The surplus funds will also support the development of products for the EU IVDR and US FDA markets, enhancing the company's competitive position [5][9]. Project Postponement - The timeline for the "In Vitro Diagnostic Product R&D Project" has been extended from October 2025 to April 2027 to accommodate the current progress and ensure effective fund utilization [9][10]. Impact on the Company - The adjustments made in the use of surplus funds and project timelines are expected to optimize resource allocation and enhance operational efficiency without adversely affecting the company's core business [9][10]. Review and Decision Procedures - The company’s board and supervisory committee have approved the use of surplus funds, which will be submitted for shareholder approval, ensuring compliance with regulatory requirements [10][11].

Core Viewpoint - The company has decided to utilize part of the remaining raised funds for other investment projects and to extend the timeline for the "in vitro diagnostic product R&D project" by 18 months, from October 2025 to April 2027 [1][3][9]. Fundraising Overview - The company raised a total of RMB 886.56 million (approximately USD 126.5 million) through its initial public offering, with a net amount of RMB 800.48 million (approximately USD 115.5 million) after deducting issuance costs [1][2]. - The funds are managed in a dedicated account as per regulations, and the company has signed a storage supervision agreement with the sponsor and the bank [2]. Investment Project Adjustments - Due to the net amount raised being lower than initially planned, the company adjusted the investment amounts for various projects to ensure efficient use of funds [2]. - The company plans to invest RMB 60 million (approximately USD 8.6 million) of the remaining funds into the "in vitro diagnostic product R&D project" [3][5]. Project Timeline Extension - The timeline for the "in vitro diagnostic product R&D project" has been extended by 18 months, now set to reach a usable state by April 2027 [3][9]. - This project includes research and development of new products and foundational technology for various diagnostic platforms [9]. Strategic Focus - The company aims to enhance its international market presence, particularly in Southeast Asia, and is accelerating clinical trials and submissions for EU IVDR and US FDA products [5][9]. - A strategic partnership with Quanterix Corporation has been established to introduce advanced single-molecule detection technology, focusing on developing products related to neurological biomarkers [5][9]. Decision-Making Process - The decision to use part of the remaining funds and extend project timelines was approved by the company's board and supervisory committee, and it will be submitted for shareholder approval [10][11]. - The supervisory committee and the sponsor have expressed their agreement with the adjustments, confirming compliance with relevant regulations [11][12].

Summary of Key Points Core Viewpoint - The company has decided to change the funding method for certain investment projects from providing loans to its subsidiary to increasing capital in the subsidiary, utilizing its own funds for this purpose [1][7][10]. Group 1: Fundraising Overview - The company raised a total of RMB 1,216,511,427.60 through its initial public offering, with a net amount of RMB 1,110,744,306.58 after deducting issuance costs [1][5]. - The funds were deposited into a special account approved by the company's board of directors, and a tripartite supervision agreement was signed with the sponsor and the commercial bank [1][8]. Group 2: Investment Project Details - The net amount raised will be allocated to various investment projects, including a high-end pharmaceutical product project and a pharmaceutical intermediate project [5][6]. - The company plans to invest RMB 43,886.66 million in the pharmaceutical intermediate project, with a portion of this amount being changed from a loan to a capital increase [6][7]. Group 3: Capital Increase Implementation - The company will increase its investment in its wholly-owned subsidiary, Jin Kai Pharmaceutical, by RMB 32,886.66 million and an additional RMB 1,913.34 million from its own funds [6][7]. - Following this capital increase, the registered capital of Jin Kai Pharmaceutical will rise from RMB 15,000.00 million to RMB 49,800.00 million [6][7]. Group 4: Management and Oversight - The company has established a special account for the management of raised funds and will adhere to relevant regulations to ensure the safety of these funds [8][10]. - The board of directors and the supervisory board have both approved the change in funding method, affirming that it aligns with legal requirements and benefits the company's long-term development [10][11].

Group 1 - The company held its seventh supervisory board's fifth meeting on August 20, 2025, which was conducted via telecommunication and was attended by all supervisory members and executives [2][4]. - The supervisory board unanimously agreed to reduce the investment scale of certain fundraising projects, conclude some fundraising projects, and permanently supplement the remaining raised funds into working capital [3][4]. - The decision to reduce the investment scale and conclude projects is based on the company's current situation and aims to improve the efficiency of fund usage and lower financial costs, benefiting the company and all shareholders, particularly minority shareholders [2][3]. Group 2 - The meeting was legally valid and complied with the Company Law of the People's Republic of China and the company's articles of association [2]. - The company will publish detailed information regarding the reduction of fundraising investment scale and the conclusion of projects in major financial newspapers and platforms [3][4].

Core Viewpoint - The company, Megachip New Materials Technology (Shanghai) Co., Ltd., is changing the implementation method of part of its fundraising projects and adjusting its internal investment structure to enhance operational efficiency and marketing effectiveness [5][8]. Fundraising Overview - The company successfully issued 27,000,000 shares at a price of RMB 58.08 per share, raising a total of RMB 1,568,160,000. After deducting underwriting fees and other expenses, the net amount raised was RMB 1,433,768,189.41, with actual funds received amounting to RMB 1,453,525,120 [2][4]. Project Investment Plans - The planned investment projects include: - New annual production of 70,000 tons of high-performance coatings: RMB 43,000,000 - Headquarters and R&D center in Jiading: RMB 15,000,000 - Intelligent warehousing construction: RMB 5,553,470 - Marketing and service network construction: RMB 4,205,510 - Supplementing working capital: RMB 25,000,000 - Total planned investment: RMB 92,758,980 [4][5]. Changes in Project Implementation - The company plans to change the implementation method of the "Marketing and Service Network Construction Project" by canceling domestic and overseas site expenses and equipment purchases, while increasing personnel and travel expenses [6][7]. - The project will focus on establishing regional sales service teams at the headquarters and subsidiary in Zhuhai, rather than setting up fixed marketing points in various regions [6][7]. Reasons for Adjustments - The adjustments are made to improve efficiency and flexibility in marketing and service operations, as the previous plan of establishing fixed points was found to be limiting [6][7]. - The company will utilize its own funds for overseas sales activities instead of relying on raised funds due to challenges in cross-border payments and regulatory compliance [7]. Impact of Changes - The changes do not alter the total amount of fundraising or the intended use of funds, ensuring that shareholder interests are not compromised [8][9]. - The adjustments are expected to enhance the efficiency of fund usage and align with the company's strategic development goals [8][9]. Approval Process - The adjustments were approved by the company's board on August 20, 2025, and will be submitted for shareholder approval [9]. Sponsor's Verification Opinion - The sponsor, UBS Securities, has reviewed the changes and found them compliant with relevant regulations, confirming that the adjustments will not affect the normal execution of the fundraising investment plan [9].