Summary of Key Points Core Viewpoint - The report provides a detailed account of the fundraising and usage of funds by Hangzhou Colin Electric Co., Ltd. for the year 2024, highlighting compliance with regulatory requirements and the management of raised capital. Fundraising Overview - Hangzhou Colin Electric successfully raised a total of RMB 39,120.11 million through the issuance of 13.975 million shares at a price of RMB 33.44 per share [1][2]. - All raised funds were deposited into a special account, and the company has signed a regulatory agreement with the underwriter and the bank [2]. Fund Usage and Balance - As of December 31, 2024, the company has utilized RMB 27,156.99 million of the raised funds, with a remaining balance of RMB 14,287.61 million [2][7]. - The net interest income from the funds amounted to RMB 2,327.55 million [2]. Fund Management Practices - The company has established a management system for the raised funds, ensuring they are stored in dedicated accounts and used in accordance with relevant laws and regulations [2][6]. - Three special accounts were opened at different banks to manage the funds, with a total balance of RMB 142,876,131.95 [3]. Investment Projects and Adjustments - The company adjusted the internal investment structure of the "Digital and Intelligent Construction Project for Power Equipment," reducing the investment amount from RMB 35,419.48 million to RMB 28,620.11 million [5][7]. - There were no instances of using idle funds for temporary liquidity support, and all funds were allocated to designated projects [3][5]. Compliance and Reporting - The underwriter conducted a thorough review of the fund management and usage, concluding that the company adhered to all regulatory requirements and did not misuse the funds [6].