Core Viewpoint - The company has decided to postpone certain fundraising projects due to macroeconomic and industry environment impacts, while also adjusting investment amounts and structures for ongoing projects [1][4][9]. Fundraising Overview - The company raised a total of RMB 1,335.9785 million by issuing 26.17 million shares at a price of RMB 51.05 per share, with a net amount of RMB 1,242.9877 million after deducting estimated issuance costs of RMB 92.9908 million [1][2]. Fundraising Project Adjustments - The company has adjusted the investment amounts and structures for the original fundraising project "LED Lighting Automation Expansion Project" and redirected surplus funds to new projects, including "LED Industrial Lighting and Special Lighting Production Base Construction Project" and "Vietnam LED Lighting Production Base Construction Project" [2][3]. Project Delay Reasons - The delay in the "Headquarters Building and R&D Center Construction Project" is attributed to the extended implementation cycle influenced by the domestic macroeconomic environment and the company's business development needs [4][9]. Feasibility of Continuing Projects - The company asserts the necessity of continuing the project, which aims to address key areas and weaknesses in LED lighting technology, and to establish a collaborative innovation system [4][5][7]. Expected Benefits - The project is expected to enhance the company's understanding of market trends and technology developments in LED lighting, leading to improved product quality and reduced uncertainty in the commercialization of research outcomes [5][6][8]. Impact of Project Delay - The delay in project implementation is not expected to have a significant adverse impact on the company's normal operations, as the overall investment amount and project scale remain unchanged [9][10]. Board Approval Process - The company's board of directors approved the postponement of the fundraising project during a meeting held on August 27, 2025, ensuring compliance with relevant regulations [10].