Core Viewpoint - Jiangsu Hengli Hydraulic Co., Ltd. successfully completed a non-public offering of 35,460,992 shares at a price of 56.40 RMB per share, raising a total of approximately 1.99 billion RMB in net funds [1][2]. Group 1: Company Overview - Jiangsu Hengli Hydraulic Co., Ltd. was established on June 2, 2005, with a registered capital of 1,340,820,992 RMB [1]. - The company specializes in the research, production, and technical support of high-pressure cylinders, hydraulic components, hydraulic systems, high-pressure plunger pumps and motors, high-pressure hydraulic valves, and precision castings [1]. Group 2: Sponsorship and Supervision - China International Capital Corporation (CICC) served as the sponsor for Hengli Hydraulic's non-public offering and is responsible for ongoing supervision [1][2]. - The sponsorship period for the non-public offering will conclude on December 31, 2024, and CICC will continue to oversee the remaining use of raised funds [4]. Group 3: Due Diligence and Compliance - During the due diligence phase, CICC conducted thorough investigations and prepared necessary documentation in compliance with regulations set by the China Securities Regulatory Commission (CSRC) and the Shanghai Stock Exchange [2]. - Throughout the ongoing supervision phase, Hengli Hydraulic adhered to legal and regulatory requirements, ensuring timely and accurate information disclosure [3]. Group 4: Fund Management - The company has complied with regulations regarding the management of raised funds, maintaining dedicated accounts for storage and specific usage [3]. - As of December 31, 2024, there are still some unutilized funds from the raised capital, and CICC will continue to monitor their usage [4].

Core Viewpoint - The report summarizes the sponsorship work of Shenwan Hongyuan Securities for Suzhou Mediston Medical Technology Co., Ltd. during its non-public offering of A-shares in 2022, highlighting the company's operational challenges and compliance with regulatory requirements [1][3]. Group 1: Company Overview - Company Name: Suzhou Mediston Medical Technology Co., Ltd. [1] - Stock Code: 603990 [1] - Registered Capital: 306.2827 million yuan [1] - Legal Representative: Weng Kang [1] - Actual Controller: State-owned Assets Supervision and Administration Office of Mianyang City [1] - Listing Date: January 3, 2023 [1] - Annual Report Disclosure Date: April 30, 2025 [1] Group 2: Sponsorship Work Overview - Shenwan Hongyuan acted as the sponsor for Mediston's 2022 non-public offering, with representatives Gong Can and Ye Wenwen responsible for ongoing supervision [1][3]. - The supervision period lasted until December 31, 2024, during which the sponsor focused on enhancing the company's operational standards and internal control systems [1][3]. Group 3: Financial Performance and Challenges - In 2023, the company reported a net profit of -26.94194 million yuan, a year-on-year decline of 902.79% [3]. - For 2024, the projected operating revenue is 46.40689 million yuan, down 24.93% year-on-year, with a net profit of -27.94747 million yuan, a decrease of 3.73% [3]. - The losses are attributed to the company's new photovoltaic business, which faced supply-demand mismatches and price fluctuations, leading to operational inefficiencies [3]. Group 4: Compliance and Cooperation - The company complied with legal and regulatory requirements for information disclosure and maintained good communication with the sponsor [4][5]. - The sponsor noted that the company effectively managed its fundraising and adhered to the dedicated account storage system for raised funds, ensuring no misuse of funds occurred [5][6]. Group 5: Conclusion on Fund Usage - The sponsor concluded that the company's use of raised funds was in strict accordance with regulations, with no violations reported during the supervision period [5]. - As of December 31, 2024, all funds from the 2022 non-public offering had been fully utilized, with no outstanding matters [5].