Core Viewpoint - The article discusses the recent performance and funding adjustments of Shenzhen Jialichuang Technology Group Co., Ltd. (Jialichuang), highlighting its position in the electronic industry and the impact of U.S. restrictions on EDA software on the domestic market [1][21]. Funding and Financial Adjustments - Jialichuang initially planned to raise 667 million yuan but later revised this figure down to 420 million yuan, a reduction of 247 million yuan [1][10]. - The funding cuts affect several projects, including the high-layer printed circuit board production line and the PCBA smart production line, indicating a significant decrease in required capital across all project categories [3][4]. Project Details - The revised funding allocation includes: - High-layer printed circuit board production line: 120 million yuan - PCBA smart production line: 115 million yuan - R&D center and information technology upgrade: 48 million yuan - Intelligent electronic components center: 74 million yuan - Mechanical industry chain production line: 63 million yuan - Total: 420 million yuan [10][4]. Cash Dividend and Financial Management - Jialichuang distributed cash dividends of 27 million yuan in 2021 and 40 million yuan in 2022, raising questions about the necessity and rationale behind these distributions in light of the funding cuts [5][8]. - The company has faced scrutiny regarding its financial internal controls, particularly concerning related-party transactions and cash flow management [11][12]. Market Position and Customer Base - Jialichuang claims to serve millions of global customers with a focus on fast delivery, high quality, and customization in small-batch production [1][21]. - The company emphasizes a diverse customer base with a high repurchase rate, although it acknowledges the challenges posed by a fragmented customer distribution [22][24]. Operational Challenges - The company has been questioned about its online sales model, which accounts for over 90% of its revenue, and the implications of using third-party payment platforms [14][19]. - Jialichuang has implemented various internal control measures to ensure the accuracy and legitimacy of its sales transactions, aiming to mitigate risks associated with potential fraudulent activities [20][24].