Meeting Overview - The second supervisory board meeting of the company was held on June 12, 2025, with all five supervisors present, confirming the legality and validity of the meeting [2][4]. Proposal for Project Delay - The supervisory board approved the proposal to delay the fundraising investment projects, stating that the delay aligns with the company's actual situation and does not harm the interests of the company or its shareholders [3][17]. - The projects affected include "5G Wireless System Product Upgrade and Technology Evolution R&D Project," "5G Industry Private Network and Intelligent Application R&D Project," and "5G Integrated Antenna and New Indoor Distribution Equipment R&D Project," with the new deadline set to December 31, 2026 [7][12]. Fundraising Details - The company raised a total of RMB 413,668.75 million from its initial public offering, with a net amount of RMB 401,132.53 million after deducting issuance costs [9]. - The funds are stored in a dedicated account, and the company has established a regulatory agreement with the underwriter and banks to ensure proper management of the funds [10]. Project Progress and Reasons for Delay - As of December 31, 2024, the progress of the projects was as follows: - 5G Wireless System Product Upgrade: 66.16% - 5G Industry Private Network: 61.64% - 5G Integrated Antenna: 72.20% - The delay is attributed to the slower pace of 5G network construction by major clients and the longer development cycle for 5G-A technology [12][13][14]. Measures for Project Completion - The company will monitor the progress of the projects and allocate resources effectively to ensure timely completion after the extension [15]. Impact of the Delay - The delay will not change the investment purposes, total investment, or implementation entities of the projects, and it is in compliance with relevant regulations [16][17].