Core Viewpoint - The company intends to utilize part of its idle raised funds and self-owned funds for cash management to enhance fund efficiency and generate returns, while ensuring that it does not affect the ongoing investment projects or normal operations [1][5][9] Fundraising Overview - The company successfully issued 20,614,089 shares at a price of RMB 57.88 per share, raising a total of RMB 1,193,143,471.32, with a net amount of RMB 1,076,315,840.57 after deducting issuance costs [1][2] - The excess funds raised amount to RMB 418,051,340.57, which will be utilized for cash management [2] Cash Management Plan - The company plans to use up to RMB 45,000,000 for cash management, with a maximum of RMB 30,000,000 from idle raised funds and RMB 15,000,000 from self-owned funds, for a period of 12 months [3][8] - The cash management will involve low-risk, high-liquidity investment products, ensuring that these funds are not used for high-risk investments [5][6] Implementation and Oversight - The board of directors has approved the cash management plan, ensuring it does not impact the ongoing investment projects or normal operations [7][8] - The company will disclose the progress of the cash management activities in accordance with relevant regulations [6][9] Impact on the Company - The cash management initiative is expected to improve fund efficiency and generate additional returns for the company and its shareholders, without altering the intended use of the raised funds [5][9]

Core Viewpoint - Xiangtan Electrochemical Technology Co., Ltd. is issuing convertible bonds totaling 487 million yuan, with a focus on raising funds for its battery materials and wastewater treatment business [2][4][10]. Overview - The convertible bond is named "Dianhua Convertible Bond" with the code 127109, and it will be listed on the Shenzhen Stock Exchange on July 4, 2025 [2][6]. - The total issuance amount is 487 million yuan, with a net amount of 479.6371 million yuan after deducting issuance costs [4][16]. - The bonds will have a face value of 100 yuan each and a maturity period from June 16, 2025, to June 15, 2031 [2][17]. Financial Details - The first-year coupon rate is set at 0.20%, increasing to 2.00% by the sixth year [3][17]. - The total issuance costs amount to 7.3629 million yuan [12][13]. Company Profile - Xiangtan Electrochemical Technology Co., Ltd. has a registered capital of 629.481713 million yuan and is primarily engaged in the production and sale of manganese dioxide and battery materials [8][10]. - The company is controlled by Xiangtan Electrochemical Group, which holds 29.54% of the shares, while the actual controller is the Xiangtan State-owned Assets Supervision and Administration Commission [9][10]. Shareholder Structure - As of March 31, 2025, the top ten shareholders hold a total of 46.13% of the company's shares, with the largest shareholder being Xiangtan Electrochemical Group [8][9]. Business Operations - The company generates over 90% of its revenue from battery materials, including various types of manganese dioxide used in primary and secondary batteries [10]. - The wastewater treatment business operates under a model of government authorization and procurement [10].