Core Viewpoint - Jiaxian Co., Ltd. has evolved from a small project under Bengbu Energy Group to a leading player in the semiconductor photoresist raw materials sector, aiming to become the first company listed on both the Beijing Stock Exchange and Hong Kong Stock Exchange through a dual-driven strategy of "new materials + electronic materials" [2][7]. Company Development - The company started as a small project in the early 2000s, focusing on green and environmentally friendly materials, and has since established itself as a leader in the β-diketone compound field [4]. - Jiaxian Co. has developed key products such as DBM and SBM, which are widely used in various applications including PVC processing, showcasing their commitment to safety and environmental standards [3][4]. - The company has made significant strides in the capital market, being the first to list on multiple platforms, including the New Third Board and the Beijing Stock Exchange, with a market capitalization growth from approximately 600 million to 3 billion [6][7]. Strategic Expansion - In 2023, Jiaxian Co. acquired a stake in Anhui Yintemei Technology Co., expanding into the electronic chemicals and key raw materials sector, particularly focusing on photoresist raw materials and UV absorbers [5][7]. - The company has invested 26 million yuan in a project to produce 1,000 tons of electronic material intermediates, addressing the low domestic self-sufficiency rate in high-end photoresists [5]. Employee Engagement and Corporate Culture - Jiaxian Co. emphasizes a strong corporate culture based on loyalty, responsibility, efficiency, and passion, encouraging employees to act as stakeholders in the company's success [8]. - The company has a low turnover rate among core employees, with many investing their salaries back into the company, fostering a sense of shared growth and commitment [8]. Future Outlook - The chairman of Jiaxian Co. has articulated a clear vision for the future, stating that the company's listing is just the beginning, with plans to strengthen its core business and expand into new technological sectors [9].

Core Viewpoint - Jiaxian Co., Ltd. has successfully transitioned from a small project under Bengbu Energy Group to a leading player in the semiconductor photoresist raw materials sector, leveraging a dual strategy of "new materials + electronic materials" to aim for becoming the first stock listed on both the Beijing Stock Exchange and Hong Kong Stock Exchange [4][9]. Group 1: Company Development - Jiaxian Co., Ltd. started over 20 years ago from a university research project and has since become one of the first companies listed on the Beijing Stock Exchange [4][5]. - The company has established itself as an "invisible champion" in the field of modified materials, with a focus on environmentally friendly products [5][6]. - In 2023, Jiaxian Co., Ltd. expanded its business by acquiring shares in Anhui Yingtemei Technology Co., focusing on photoresist raw materials and UV absorbers [6][7]. Group 2: Financial Performance - In the first half of the year, Jiaxian Co., Ltd. reported a revenue of 266 million yuan, with 98.1% coming from its main business [5]. - The company's market capitalization has increased from approximately 600 million yuan at the time of its initial public offering to around 3 billion yuan currently [8]. Group 3: Strategic Initiatives - The company is planning to issue H-shares and list on the Hong Kong Stock Exchange to support its international strategy [9]. - Jiaxian Co., Ltd. has a history of being the first to enter various markets, demonstrating strong foresight and adaptability in capital market strategies [8][9]. Group 4: Employee Engagement - The company emphasizes a corporate culture of loyalty, responsibility, efficiency, and passion, with a low turnover rate among core employees [10][11]. - Employees have actively participated in the company's growth by investing their salaries into company shares, aligning their interests with the company's success [11].

Core Viewpoint - The company has decided to postpone the implementation of the "Annual Production of 7,000 Tons of Diphenylmethane (DBM) Intelligent Manufacturing Technological Transformation and Expansion Project" based on a comprehensive assessment of market demand and current operational conditions, despite the project still being deemed necessary and feasible [7][32][34]. Group 1: Company Overview - The company is Shandong Jianbang New Materials Co., Ltd., with the stock code 603285 and the abbreviation "Jianbang Shares" [3]. - The company held its second board meeting on July 29, 2025, with all seven directors present, ensuring compliance with legal and regulatory requirements [4][5]. Group 2: Financial Data - The company raised a total of RMB 746 million through its initial public offering, with a net amount of RMB 663.45 million after deducting issuance costs [25][39]. - As of June 30, 2025, the company reported its fundraising usage and balance, indicating effective management of the raised funds [67]. Group 3: Project Updates - The company conducted a re-evaluation of the DBM project, concluding that while the market outlook remains stable, the current production line can meet demand, leading to the decision to delay the project [28][32][34]. - The company has been optimizing its existing production processes, achieving a production increase of 51.05% year-on-year in 2024 for the DBM/SBM workshop [31]. Group 4: Fund Management - The company plans to use temporarily idle funds for cash management, with a maximum amount of RMB 40 million allocated for investments in low-risk, high-liquidity products [62][63]. - The company has established strict protocols for managing and utilizing the raised funds, ensuring compliance with relevant regulations [40][41].

Core Points - The company, Shandong Jianbang New Materials Co., Ltd., successfully raised a total of RMB 746 million through its initial public offering, with a net amount of RMB 663.45 million after deducting issuance costs [1][2] - As of June 30, 2025, the company has invested RMB 97.1 million in its fundraising projects, with a remaining balance of RMB 118.6 million in its special fundraising account [1][3] - The company has established a fundraising management system to ensure compliance with relevant laws and regulations, enhancing the efficiency and effectiveness of fund usage [1][3][4] Fundraising and Usage - The actual amount raised from the IPO was RMB 746 million, with a net amount of RMB 663.45 million after deducting issuance costs of RMB 82.55 million [1] - As of June 30, 2025, the company has invested RMB 97.1 million in fundraising projects, with a remaining balance of RMB 118.6 million in the special fundraising account [1][3] - The company has not used idle fundraising for temporary working capital and has managed idle funds through safe and liquid investment products [3][4] Fund Management - The company has signed tripartite and quadripartite agreements with banks and sponsors to regulate the storage and management of fundraising [1][3] - The company has utilized RMB 45 million of idle funds for cash management, investing in structured deposits and other safe financial products [3][4] - There are no instances of using excess funds for permanent working capital or repaying bank loans as of June 30, 2025 [3][4] Project Adjustments - The company has made adjustments to its fundraising projects based on actual needs and has received verification opinions from its sponsor regarding these changes [4][5] - The company has decided to temporarily suspend the implementation of the "7000 tons of dibenzoylmethane (DBM) intelligent manufacturing technology transformation and expansion project" due to a delay of over one year [6][7] - The company has approved the use of RMB 11 million to increase capital in its wholly-owned subsidiary for the implementation of specific projects [5][6]

Core Viewpoint - The company intends to utilize part of its temporarily idle raised funds for cash management to enhance the efficiency of fund usage and maximize shareholder benefits, ensuring that it does not affect the normal operation of fundraising investment projects [4][9]. Fundraising Basic Situation - The company raised a total of RMB 746 million by issuing 40 million shares at RMB 18.65 per share, with a net amount of RMB 663.45 million after deducting issuance costs of RMB 82.55 million [1][2]. Fund Usage Plan - The company plans to invest in a project for the annual production of 7,000 tons of diphenylmethane (DBM) smart manufacturing technology transformation and expansion, with a total investment of RMB 136.66 million [2]. Cash Management Overview - The company proposes to use up to RMB 400 million of temporarily idle raised funds for cash management, focusing on high-security, high-liquidity investment products with capital protection agreements [5][6]. Previous Cash Management - In a previous authorization, the company was allowed to use up to RMB 450 million of idle funds for cash management, with the balance of such investments still outstanding as of the date of this report [3][6]. Investment Risk and Control Measures - The company will invest in safe and liquid products, ensuring that the cash management does not alter the intended use of the raised funds and does not impact the normal progress of investment projects [7][9]. Approval Process - The cash management proposal was approved in the second board meeting and does not require shareholder approval, as it falls within the board's authority [6][9].

Core Viewpoint - The company has decided to re-evaluate and temporarily suspend certain fundraising investment projects due to the actual net fundraising amount being lower than initially planned, aiming to enhance the efficiency of fund utilization [1][2][6] Fundraising Overview - The company raised a total of RMB 746 million by issuing 40 million shares at RMB 18.65 each, with a net amount of RMB 663.45 million after deducting issuance costs of RMB 82.55 million [1][2] - The funds are stored in a dedicated account to ensure they are used specifically for their intended purposes, in compliance with regulatory requirements [2] Adjustments to Investment Projects - The company held board and supervisory meetings on August 2, 2024, to approve adjustments to the planned investment amounts for fundraising projects, reflecting the need to optimize fund usage [2][3] - The total investment amount for the projects was adjusted from RMB 177.80 million to RMB 176.80 million, with the net fundraising amount remaining at RMB 66.35 million [3] Changes and Actual Use of Funds - The company plans to change the investment plan for the project aimed at producing 7,000 tons of dibenzoylmethane (DBM) through technological upgrades and expansion [4][5] - The actual use of funds will be reported in a special report, ensuring transparency and compliance with regulations [4] Re-evaluation and Suspension of Projects - The DBM project has been on hold for over a year, necessitating a re-evaluation of its feasibility and expected returns [5][6] - The company has determined that the current production line can meet demand, and it is not the optimal time to invest in the DBM project, leading to its temporary suspension [6][7] Impact on Operations - The decision to suspend the project is based on a careful assessment of market demand and operational conditions, and it is not expected to adversely affect current operations [6][7] - The suspension is seen as beneficial for long-term development and resource allocation, enhancing the efficiency of fund usage [6][7] Review Procedures - The decision to suspend the project was approved through necessary board meetings, ensuring compliance with regulatory frameworks [7][8]

Core Viewpoint - The company has decided to reassess and temporarily suspend the implementation of the project for the annual production of 7,000 tons of Diphenylmethane (DBM) smart manufacturing technology transformation and expansion due to market demand and overall evaluation of its current production and operational status [1] Group 1 - The company held its second board meeting on July 29, 2025, to discuss the project [1] - The project involves the intelligent manufacturing technology transformation and expansion for DBM production [1] - The decision to pause the project is based on an assessment of market demand and the company's operational conditions [1]