Fundraising Overview - The company raised a total of RMB 172,804.91 million from the public offering of 112,430,000 shares, with a net amount of RMB 162,709.49 million after deducting issuance costs of RMB 10,095.42 million [1][2] - The funds were fully received by May 24, 2022, and verified by DaHua Accounting Firm [1] Fund Utilization - As of June 30, 2025, the company has utilized RMB 164,488.81 million of the raised funds, with RMB 150,055.35 million directly invested in projects and RMB 14,444.95 million used to supplement working capital [2][4] - The balance of the raised funds and cash management accounts stood at zero as of June 30, 2025 [2][4] Fund Management - The company has established a fundraising management system in compliance with relevant regulations to ensure proper management and usage of the funds [3] - A tripartite supervision agreement was signed with the bank and the securities company to ensure dedicated use of the funds [3] Project Adjustments - The company has made adjustments to the investment amounts for certain projects and has closed specific fundraising accounts as per the board's resolutions [3][4] - No prior expenditures were replaced with raised funds during the reporting period [4] Compliance and Reporting - The company has reported that all information regarding the use of raised funds has been timely, truthful, accurate, and complete, with no significant violations in fund management [4][5]