Company Summary - Zhishang Technology plans to invest part of its excess raised funds, approximately 180 million yuan, to build an intelligent manufacturing production base in Vietnam to enhance fundraising efficiency and profitability [1] - The company raised a total of approximately 1.855 billion yuan during its 2023 IPO, with a net amount of 1.689 billion yuan after deducting underwriting fees, and has 387 million yuan in excess funds [1] - As of July 25, 2025, Zhishang Technology has utilized 130 million yuan of the excess funds [1] - The construction period for the Vietnam production base is 24 months, involving the purchase and renovation of a factory in Phu Tho Province, Vietnam, along with the procurement of advanced production and testing equipment [1] - Upon full production, the project is expected to generate an average annual sales revenue of 687 million yuan, with a post-tax static investment payback period of 7.32 years, including the construction period [1] Industry Summary - The gaming machine components and optical communication industries are experiencing robust growth, with increasing demand from clients as their business scales up [2] - There is a rising expectation for upstream suppliers to enhance product performance, precision control, and customization capabilities due to rapid technological iterations and product upgrades [2]

Group 1 - The company plans to invest approximately 180 million yuan in the construction of a smart manufacturing production base in Vietnam to improve the efficiency of raised funds and enhance profitability [1] - The total amount raised during the company's IPO was about 1.855 billion yuan, with a net amount of 1.689 billion yuan after deducting underwriting fees, and the excess raised funds amount to 387 million yuan [1] - The construction period for the Vietnam smart manufacturing production base is 24 months, and upon full production, it is expected to achieve an average annual sales revenue of 687 million yuan with an investment return rate of 29.01% [1] Group 2 - The gaming components and optical communication industries are experiencing robust growth, leading to increased demands for product performance, precision control, and customization from downstream customers [2] - The company aims to accelerate the R&D, manufacturing, and sales of gaming components and optical communication products to meet the evolving needs of customers and avoid being replaced by competitors [2] - The new project does not involve related party transactions and does not constitute a major asset restructuring as defined by the regulations [2]