Fundraising Overview - The company raised a total of 304,465,200.00 RMB through a non-public offering of 22,620,000 shares at a price of 13.46 RMB per share, with a net amount of 299,191,994.34 RMB after deducting issuance costs [1][8] - As of June 30, 2025, the company had a balance of 299,898,222.00 RMB in its fundraising account [1] Fund Utilization - The actual usage of the raised funds amounted to 30,773.89 million RMB as of June 30, 2025 [1][8] - A total of 20,943.44 million RMB of the raised funds was redirected to different projects, representing 70% of the total [8] Project Changes and Terminations - The company approved changes to the investment projects, including the termination of the "Xuzhou Peixian Huxi Rural Complex Project" and the "Yiwuguo Trade Avenue Landscape Project," reallocating the remaining funds for working capital [1][7] - The company has completed the "Xuzhou Peixian Huxi Rural Complex Project," with 1,950.13 million RMB of surplus funds allocated to working capital [1][7] Idle Fund Management - The company temporarily used idle funds of up to 140 million RMB for working capital in July 2022, which was fully returned by July 2023 [4] - In June 2023, the company approved the temporary use of 120 million RMB of idle funds, which was also returned by June 2024 [5] - As of June 30, 2025, there were no idle funds being used for temporary working capital [5][6] Project Performance and Benefits - The company reported that there were no projects with cumulative returns below 20% of the promised returns [3][10] - The performance of the projects is still under evaluation, with some projects unable to be assessed until completion and audit [3][10]

Fundraising Overview - The company raised a total of 304,465,200.00 RMB through a non-public offering of 22,620,000 shares at a price of 13.46 RMB per share, with a net amount of 299,191,994.34 RMB after deducting issuance costs [1][2] - As of December 31, 2024, the company has utilized 189,403,296.94 RMB of the raised funds, leaving a balance of 3,319,867.62 RMB in the fundraising account [2][3] Fund Management - The company has established a fundraising management system, including a tripartite supervision agreement with banks to ensure proper use and management of the funds [2][3] - The funds are stored in dedicated accounts at multiple banks, with a total initial deposit of 299,898,222.00 RMB [2][3] Fund Usage - The company has used 32,065,859.50 RMB in 2024, with 12,683,780.49 RMB allocated to project investments and the remainder for operational liquidity [2][3] - The company approved the temporary use of idle funds, allowing up to 120 million RMB to supplement working capital, with a commitment to return the funds to the dedicated account within 12 months [3][4] Project Updates - The company has concluded the "Xuzhou Peixian West Lake Rural Complex Project," reallocating the remaining funds of 19,382,079.01 RMB to permanent working capital [4][6] - Several projects have been terminated or adjusted due to changes in market conditions and regulatory requirements, including the "Xuzhou Peixian West Lake Rural Complex Project" and the "Yiwuguo Trade Avenue Landscape Project" [5][6][10] Compliance and Reporting - The company has adhered to relevant laws and regulations regarding fundraising and project management, with no violations reported [7][8] - The company has committed to improving its disclosure practices to avoid delays in reporting project status and changes [7][8]