Core Viewpoint - Beijing Qianfang Technology Co., Ltd. has completed the cancellation of certain special accounts for raised funds, following a change in the use of funds from a previously planned project to a new one [1][4]. Group 1: Fundraising Overview - The company raised a total of RMB 190 million through a non-public offering of 90,562,440 shares at a price of RMB 20.98 per share, with a net amount of RMB 187.63 million after deducting issuance costs [1]. - The funds were fully received by July 31, 2020, and verified by an accounting firm [1]. Group 2: Change in Fund Usage - The company decided to terminate the project "Next-Generation Intelligent Transportation System Products and Solutions R&D Upgrade and Industrialization" and reallocate the remaining funds of RMB 95.57 million (including RMB 4.16 million in investment income) to a new project focused on "Key Technology R&D and Industrialization for Logistics Automation" [2][4]. - This change was approved in a board meeting on December 26, 2025, and subsequently ratified in a shareholder meeting on January 12, 2026 [2]. Group 3: Fund Management - The company has established a management system for the raised funds, ensuring compliance with regulatory requirements and protecting investor interests [3]. - A tripartite/four-party supervision agreement was signed with the sponsoring institution and the bank to ensure strict approval and dedicated use of the raised funds [3]. Group 4: Account Cancellation - The company has completed the cancellation of two special accounts related to the terminated project, and all funds have been transferred as per regulations [4]. - The cancellation of these accounts has been communicated to the sponsoring institution and relevant parties [4].

Group 1 - The company, Qianfang Technology (002373.SZ), announced the approval of a proposal to change the use of part of the raised funds at the 14th meeting of the sixth board of directors [1] - The company will terminate the implementation of the 2020 non-public offering project for specific objects, titled "R&D Upgrade and Industrialization of Next-Generation Smart Transportation System Products and Solutions" [1] - The remaining raised funds amount to 955.7047 million yuan, which includes financial income and interest of 41.6048 million yuan [1] Group 2 - The purpose of the remaining funds will be changed to implement a new investment project titled "R&D and Industrialization of Key Technologies for Unmanned Logistics" [1] - The sponsor institution, Guotai Junan Securities Co., Ltd., has issued a consent verification opinion on this matter [1]

Core Viewpoint - The company intends to utilize part of its idle raised funds for cash management, ensuring that this does not affect the normal operation of its fundraising projects and aims to enhance the efficiency of fund usage while generating returns for the company and its shareholders [1][3][7]. Group 1: Fundraising and Allocation - The company raised a total of RMB 1,899,999,991.20 through a non-public offering of 90,562,440 shares at a price of RMB 20.98 per share, with a net amount of RMB 1,876,320,745.92 after deducting issuance costs [1]. - The total investment for the next-generation smart transportation system project is RMB 200,606.21 million, with RMB 190,000 million allocated from the raised funds [2]. - As of May 31, 2025, the company has invested RMB 39,221.61 million in the project and has a remaining balance of RMB 25,083.96 million in its special fund account [2]. Group 2: Cash Management Approval - The company’s board approved the use of up to RMB 200 million of temporarily idle raised funds for cash management, allowing for the purchase of low-risk financial products with high liquidity [3][4]. - The cash management decision is valid for 12 months from the date of board approval, and the funds can be rolled over within this period [4][5]. Group 3: Risk Management and Oversight - The company will ensure that cash management does not alter the intended use of the raised funds and will maintain strict oversight to safeguard fund security [5][6]. - The financial management center will track the progress of investment projects and adjust cash management strategies accordingly [5][6]. Group 4: Monitoring and Compliance - The supervisory board and the appointed sponsor institution have the right to monitor and audit the cash management activities [6]. - The company has followed necessary legal procedures for cash management, which is expected to improve fund usage efficiency without impacting the normal operation of fundraising projects [7][8].