Core Viewpoint - The company has announced a delay in the completion of certain fundraising projects, specifically the "Special Functional Materials Industrialization Project" and the "Special Functional Materials R&D Center Project," extending their expected operational status to March 2026 due to various operational and market factors [10][12][13]. Financial Data - The company reported a decline in profits for the first quarter of 2025 compared to the same period last year, attributed to increased costs from trial production and low capacity utilization in subsidiaries [4]. - The company’s total share capital is 139,066,671 shares, with a capital reserve increase of 0.4 shares per share for all shareholders, resulting in a total increase of 55,626,668 shares [3]. Fundraising and Project Status - The total amount raised from the initial public offering was approximately RMB 315.83 million, with a net amount of RMB 295.82 million after expenses [11]. - The company has previously postponed the operational status of the aforementioned projects from March 2024 to June 2025, and now to March 2026, due to stricter requirements in project execution and market demand [12][13]. Use of Funds - The company plans to use RMB 22.82 million of excess fundraising to permanently supplement its working capital, which is 13.60% of the total excess funds raised [31][32]. - The company has committed to ensuring that the use of excess funds will not affect the normal operation of fundraising projects and will comply with regulatory requirements [34][36]. Profit Distribution - The company proposes a profit distribution plan for 2024, which includes a cash dividend of RMB 5.2 per 10 shares and a capital reserve increase of 4 shares for every 10 shares held [41][42]. - The total cash dividend is expected to be approximately RMB 101.24 million, representing 30.20% of the net profit attributable to shareholders for the year [42].