Core Viewpoint - The report details the fundraising activities and usage of funds by Lianhua Holdings Co., Ltd. for the first half of 2025, highlighting the total amount raised, the allocation of funds, and the management of these funds [1][2][3]. Fundraising Overview - The company raised a total of RMB 993,545,246.40 through a non-public offering of 413,977,186 shares at RMB 2.40 per share, with a net amount of RMB 976,158,204.59 after deducting underwriting fees [1]. - As of June 30, 2025, the balance of the raised funds was RMB 54,815.84 million, with RMB 34,815.84 million in the special account [3]. Fund Usage and Management - The company has used RMB 41,949.97 million of the raised funds cumulatively by the end of 2024, with no usage reported for the first half of 2025 [2][6]. - The company has temporarily used RMB 20,000.00 million of idle funds to supplement working capital, with the repayment period not exceeding 12 months [6][7]. Fund Management Practices - The company has established a management system for the raised funds, including a special account for storage and a tripartite supervision agreement with banks and the sponsor [3][4]. - No cash management or investment in related products was reported for idle funds during the reporting period [7][12]. Project Adjustments - The company has made adjustments to its fundraising projects, including the termination of the "Biological Fermentation Products Project" and the "Supporting Biological Fermentation Products Project" due to market conditions and strategic considerations [10][12]. - The "Wheat Flour Series Products Project" has been scaled down and concluded, reflecting a cautious approach to investment in light of increased competition and market saturation [10][11]. Compliance and Disclosure - The company has ensured compliance with relevant regulations regarding the use of raised funds and has committed to timely and accurate disclosures [9][12].

Summary of Key Points Core Viewpoint The report outlines the fundraising activities and the utilization of raised funds by Tongqinglou Catering Co., Ltd. It details the amounts raised, the allocation of funds to various projects, and the management of these funds, emphasizing compliance with regulatory requirements. Fundraising Overview - The company raised a total of RMB 835 million by issuing 50 million A-shares at RMB 16.70 per share, with net proceeds amounting to RMB 735.3 million after deducting issuance costs of RMB 99.7 million [1][2]. - As of June 30, 2025, the company has utilized RMB 674.27 million of the raised funds, leaving a balance of RMB 61.03 million [3][4]. Fund Utilization Details - Prior to the funds being received, the company invested RMB 240.57 million from its own resources into projects, which was later reimbursed using the raised funds [2][3]. - In 2023, the company directly invested RMB 124.97 million from the raised funds into projects and temporarily supplemented working capital with RMB 196.86 million of idle funds, all of which were returned to the dedicated account by April 17, 2024 [2][3][4]. - For the first half of 2025, the company directly invested RMB 31.44 million from the raised funds and used RMB 85 million of idle funds temporarily, which were returned by May 22, 2025 [2][3]. Fund Management Practices - The company has established a dedicated fund management system in compliance with relevant laws and regulations, ensuring proper storage, approval, and usage of the raised funds [3][4]. - The company has signed tripartite supervision agreements with various banks to ensure the proper management of the funds [3][4]. Project Adjustments and Changes - The company has made adjustments to the investment projects, reallocating funds from the "Raw Material Processing and Distribution Base Project" to the "New Chain Hotel Project" due to strategic business needs [4][5]. - The company has also established special accounts for its subsidiaries to manage the funds allocated for specific projects, ensuring compliance with regulatory requirements [4][5]. Financial Performance and Future Plans - The "Raw Material Processing and Distribution Base Project" is expected to enhance food safety and brand recognition, contributing to long-term strategic value rather than immediate economic benefits [10][20]. - The company plans to continue utilizing any surplus funds for daily operations and business development, with a focus on maintaining compliance and transparency in fund usage [9][11].

Fundraising Overview - The company raised a total of RMB 1,649,319,958.00 by issuing 19,490,900 shares at a price of RMB 84.62 per share, with a net amount of RMB 1,467,876,199.92 after deducting issuance costs [1][2] - As of June 30, 2025, the total net amount of raised funds was RMB 146,787.62 million, with RMB 146,308.22 million invested in projects and RMB 1,794.24 million in net interest income [1][2] Fund Management - The company established a management method for the raised funds, adhering to regulations to ensure proper management and usage, including a dedicated account storage system [1][2] - Six dedicated accounts for the raised funds have been closed as of June 30, 2025, indicating a complete utilization of the funds [1][2] Fund Utilization - The company did not have any idle funds or temporary use of idle funds for working capital during the reporting period [1][2] - All investment projects funded by the raised capital, including the "Gene Modification Model Resource Library" and "Humanized Antibody Mouse Model Development," have been completed [4][5] Cash Management - The company approved the use of up to RMB 80 million of excess and idle funds for cash management, allowing for cyclical use within a 12-month period starting from February 1, 2024 [1][2] Compliance and Reporting - The company confirmed that all disclosed information regarding the use of raised funds is timely, truthful, accurate, and complete, with no significant violations in fund usage [1][2]

Core Viewpoint - Wuhu Berteli Automotive Safety Systems Co., Ltd. plans to use its own funds to lend to Wuhu Berteli Mexico Co., Ltd. for the payment of a project, which will later be replaced with raised funds to ensure project operation and fund security [1][5]. Fundraising Basic Situation - The company has issued 28,020,000 convertible bonds with a total fundraising amount of RMB 2,802,000,000, with a net amount of RMB 2,789,650,905 after deducting issuance costs [1][2]. Fundraising Investment Project Situation - The raised funds will be used for various projects, including the "720 million lightweight components and 200 million brake calipers project" in Mexico, with a total investment of USD 16.5 million [5][6]. Reason for Using Own Funds - The use of self-funds is necessary due to the nature of the project involving overseas construction and procurement, which requires payments in multiple currencies that cannot be directly handled by domestic fundraising accounts [5][6]. Specific Operation Process - The process involves the approval of payment requests, signing contracts, and ensuring that the funds used will be replaced with raised funds in a timely manner, with oversight from the company and sponsor institutions [6][7]. Impact on the Company - The operation of using self-funds for project payments does not affect the normal implementation of investment plans and does not change the direction of raised funds or harm shareholder interests [6][7]. Special Opinions - The supervisory board and sponsor institution have both agreed that the use of self-funds for project payments is necessary and does not harm the company's or shareholders' interests [7][8].

Summary of Key Points Core Viewpoint - Jiangnan High Fiber Co., Ltd. has provided a detailed report on the management and usage of raised funds for the first half of 2025, indicating that all raised funds have been utilized and the balance is zero [1]. Fundraising Basic Situation - The company raised a total of RMB 821.6698 million through a non-public offering of 160 million shares at a price of RMB 5.13 per share, with all funds received by November 3, 2017 [1]. - Cumulative usage of raised funds reached RMB 520.2215 million by June 30, 2025, with RMB 398.1658 million used for permanent working capital [1]. Fund Management Situation - The company has established a three-party supervision agreement for the management of raised funds, ensuring that funds are used specifically for designated projects [1]. - As of June 30, 2025, the company has no idle funds temporarily used for working capital [1]. Actual Usage of Raised Funds - The report details the actual usage of raised funds for investment projects, with a cumulative investment of RMB 520.2215 million [1]. - The company has agreed to replace self-raised funds with raised funds for certain projects, with the approval of the supervisory board and independent directors [1]. Changes in Fund Usage - The company has permanently supplemented working capital with surplus funds from completed projects, totaling RMB 81.8103 million [2]. - The company has terminated the upgrade project for the production line of 80,000 tons of composite short fibers due to changes in market conditions [3]. Issues in Fund Usage and Disclosure - The company has confirmed that there are no issues regarding the timeliness, accuracy, or completeness of disclosed information related to the management and usage of raised funds [2].

Core Viewpoint - The report provides an overview of Chengdu Olin Biological Technology Co., Ltd.'s fundraising activities, including the amount raised, its usage, and management practices, ensuring compliance with relevant regulations and protecting investor interests [7][10][20]. Group 1: Fundraising Overview - The company raised a total of RMB 400,436,400 by issuing 40,530,000 shares at a price of RMB 9.88 per share, with net proceeds amounting to RMB 358,837,273.38 after deducting issuance costs [7]. - As of June 30, 2025, the remaining balance of the raised funds is RMB 96,567,600 [9]. Group 2: Fund Usage and Management - In the first half of 2025, the company invested RMB 6,207,000 from the raised funds and earned net investment income of RMB 338,300 [9]. - The company has established a dedicated bank account for managing the raised funds, ensuring that they are used for their intended purposes [10]. - A tripartite supervision agreement was signed with the banks and the sponsor to oversee the management of the raised funds, ensuring compliance with regulatory requirements [11]. Group 3: Compliance and Reporting - The company has adhered to all relevant laws and regulations regarding the use of raised funds, with no instances of non-compliance reported [20]. - The company has disclosed its fundraising activities and fund usage transparently, fulfilling its information disclosure obligations [20].

Core Viewpoint - Guangdong Huate Gas Co., Ltd. has provided a special report on the management and actual use of raised funds for the first half of 2025, confirming compliance with relevant regulations and detailing the status of funds raised through convertible bonds [1][16]. Fundraising Overview - The total amount raised through the issuance of convertible bonds was RMB 646 million, with a net amount of RMB 638.18 million after deducting related fees [1]. - As of December 31, 2024, the company had utilized RMB 312.60 million from previous years, leaving a balance of RMB 290.66 million [2]. - In the current reporting period, RMB 82.23 million was used for fundraising projects, with specific details provided in an attached table [3]. Fund Management - The company has established a fundraising management system in accordance with relevant laws and regulations to ensure the proper management and use of raised funds [4]. - Six special accounts for the raised funds have been set up, with agreements signed with various banks and the sponsor [5][6]. Actual Use of Funds - The report indicates that there were no early investments or replacements of fundraising projects during the reporting period [6]. - There were no instances of using idle funds to temporarily supplement working capital [7]. - The company has approved the use of up to RMB 30 million and RMB 25 million of temporarily idle funds for cash management, ensuring that it does not affect the implementation of fundraising projects [8][9]. - As of June 30, 2025, the balance of idle funds used for cash management was RMB 56 million [10]. Other Fund Usage Situations - The company provided a zero-interest loan of RMB 40 million to its wholly-owned subsidiary for fundraising projects, with a repayment period of three years [12]. - There were no changes in the use of fundraising projects or any surplus funds during the reporting period [12]. Compliance and Disclosure - The company has complied with all relevant laws and regulations regarding the use of raised funds and has disclosed the usage status in a timely manner, with no significant violations reported [13][16].

Fundraising Overview - The company raised a total of RMB 2,696,305,657.50 through a non-public offering of 460,906,950 shares at a price of RMB 5.85 per share, with the net amount after fees being RMB 2,674,131,517.90 [1][2] - The funds were deposited into the company's account on October 26, 2022, and verified by KPMG [1][2] Fund Utilization - As of June 30, 2025, the balance of the raised funds was RMB 1,141,392.66 after accounting for interest income and various expenditures [1][2] - The company has utilized RMB 1,748,550,244.53 for project investments and RMB 784,407,235.31 for permanent working capital [1][2] Fund Management - The company has established a three-party supervision agreement for fund management with several banks to ensure the funds are used appropriately [1][2] - The funds are managed in designated accounts to maintain transparency and accountability [1][2] Project Investment and Adjustments - The company approved the use of RMB 85,768.96 million of the raised funds to replace pre-invested self-raised funds for various projects [1][2] - Adjustments were made to the investment amounts for certain projects due to the actual net amount raised being lower than initially planned [1][2] Financial Performance of Projects - The projects funded by the raised capital have reported net losses, including RMB 514.13 million for the 200MW agricultural photovoltaic project and RMB 352.07 million for the 100MW fishing photovoltaic project [3][4] - The underperformance is attributed to regional power restrictions and changes in electricity market pricing mechanisms [3][4]

Summary of Key Points Core Viewpoint The report provides a detailed account of the fundraising activities, management, and usage of the raised funds by Guangzhou Tongda Automotive Electric Co., Ltd. for the first half of 2025, ensuring compliance with regulatory requirements and highlighting the financial status of the company. Fundraising Overview - The company raised a total of RMB 818,054,105.69 after deducting various fees and taxes from the gross amount raised through the issuance of 87,921,800 shares at RMB 10.07 per share [1][2]. - The net amount raised was verified by Tianjian Accounting Firm, which issued a verification report [1]. Fund Usage and Balance - As of June 30, 2025, the net amount raised was RMB 81,805.41 million, with RMB 71,744.27 million allocated to projects and RMB 13,640.69 million set aside for permanent working capital [1][2]. - The company reported a remaining balance of RMB 90.84 million in the fundraising account, which has not been transferred for other uses [2][3]. Fund Management - The company has established a fundraising management system in compliance with relevant laws and regulations, ensuring that funds are stored in dedicated bank accounts [1][2]. - As of June 30, 2025, the company maintained four dedicated fundraising accounts with a total balance of RMB 908,390.06 [1][2]. Investment and Financial Management - The company has utilized temporarily idle funds for cash management, generating approximately RMB 0.04 million in interest income from fixed deposits [2][3]. - The company has not encountered any abnormal situations regarding the investment projects funded by the raised capital [2][3]. Project Status - There have been no changes to the fundraising investment projects, and the company has not reported any issues with the effectiveness of the projects funded [2][3]. - The company has indicated that the benefits of certain projects, such as the R&D and product testing center, cannot be individually quantified but contribute to new product development and financial risk mitigation [2][3].

Summary of Key Points Core Viewpoint Ningbo Meinuo Pharmaceutical Co., Ltd. has reported on the status of its fundraising activities, detailing the amount raised, its usage, and the management of the funds as of June 30, 2025. The report highlights the company's commitment to regulatory compliance and effective fund management. Fundraising Basic Situation - The company raised a total of RMB 512,697,629.67 through the issuance of 5.2 million convertible bonds, with all funds received by January 20, 2021 [1]. - As of June 30, 2025, the net amount of actual raised funds was RMB 512,697,629.67, with RMB 120,013,509.22 allocated to supplement working capital [1][2]. Fund Usage and Balance - The company has utilized RMB 262,892,455.63 for the high-end formulation project and has also engaged in cash management with idle funds, generating a total of RMB 390.4 million in returns from investments [1][2]. - The total amount of idle funds invested in cash management reached RMB 29 million, with RMB 17 million redeemed during the reporting period [2][3]. Fund Management Situation - The company has established a dedicated account storage system for the raised funds, ensuring compliance with relevant regulations [1][2]. - As of June 30, 2025, the balance in the dedicated accounts totaled RMB 20,183,440.32, with specific accounts allocated for different projects [1][2]. Semi-Annual Fund Usage - The company has not experienced any delays in the planned progress of its fundraising investment projects, and there have been no significant changes in the feasibility of the projects [2][3]. - The high-end formulation project is expected to be completed by July 2025, with ongoing evaluations and adjustments to project timelines as necessary [3][4]. Changes in Fund Investment Projects - The company has approved changes to the allocation of funds, redirecting RMB 13,834.70 million from the high-end formulation project to the 734-ton pharmaceutical raw material project [4][5]. - There have been no instances of transferring or replacing the investment projects with external parties [4][5]. Issues in Fund Usage and Disclosure - The company has reported no significant issues in the usage and disclosure of the raised funds, maintaining transparency and compliance with regulatory requirements [4][5].