Core Viewpoint - The company has announced a delay in the expected operational status of two fundraising investment projects, extending the timeline for the "Jixi Branch Phase III Project" to August 2026 and the "Traditional Chinese Medicine Material Processing Project" to October 2026 [1][4][10] Fundraising Overview - The company raised a total of RMB 1,237,999,917.28 through a non-public offering of 92,803,592 shares at a price of RMB 13.34 per share, with a net amount of RMB 1,217,240,132.22 after deducting issuance costs [1][2] - The funds are stored in a dedicated account, and a three-party/four-party supervision agreement has been signed [1] Investment Project Details - The company has made adjustments to its fundraising investment projects due to changes in market conditions and policy adjustments, including the termination of certain sub-projects and reallocating funds to other projects [2][3] - The "Jixi Branch Phase III Project" involves the construction of a chemical synthesis workshop and related facilities, with construction progress affected by industry policies and competition [8] Delay Reasons and Measures - The delays in project timelines are attributed to construction progress lagging behind the original schedule, necessitating a cautious review and adjustment of the expected operational status [6][9] - The company plans to implement measures to ensure compliance and efficient use of the raised funds, including strict supervision of project progress [9] Approval Process - The delay in the investment projects was approved by the company's board of directors, following necessary procedures and compliance with relevant regulations [10]

Core Points - The company announced the postponement of certain fundraising investment projects during the fifth board meeting on August 11, 2025 [2] - The "Jixi Branch Phase III Construction Project" is now expected to reach its intended usable state by August 2026 [2] - The "Traditional Chinese Medicine Material Processing Project" is now expected to reach its intended usable state by October 2026 [2]