Core Viewpoint - The report provides an overview of the company's financial status, governance structure, and recent developments, including a share reduction plan by key executives and the management of raised funds [1][9][24]. Group 1: Company Governance and Share Structure - The company has implemented a special voting rights system, where Class A shares held by the controlling shareholder have six votes per share, while Class B shares have one vote per share [5][6]. - As of May 16, 2023, the controlling shareholder's Class A shares increased from 146,505,343 to 205,107,480 shares, maintaining the voting rights ratio [6]. - The company has a governance structure that includes a board of directors and a supervisory board, with all directors present at board meetings [3][4]. Group 2: Financial Data and Fund Management - The company raised a total of RMB 172,804.91 million from the issuance of 112,430,000 shares, with a net amount of RMB 162,709.49 million after deducting issuance costs [24][25]. - As of June 30, 2025, the company has utilized RMB 164,488.81 million of the raised funds, with RMB 150,055.35 million directly invested in projects and RMB 14,444.95 million as working capital [25][26]. - The company has established a dedicated account for managing raised funds, ensuring compliance with regulations and protecting investor interests [26][27]. Group 3: Executive Share Reduction Plans - The company announced that its director and vice president, Li Jiwei, plans to reduce his holdings by up to 43,235 shares, representing 0.0042% of the total shares [11][12]. - The financial director, Gao Wei, intends to reduce her holdings by up to 8,696 shares, accounting for 0.0008% of the total shares [11][12]. - Both executives have not sold any shares since their listing and their reduction plans are aligned with previous commitments regarding share transfers [12][13].