Summary of Key Points Core Viewpoint The report provides an overview of the fundraising activities and the utilization of the raised funds by Zhejiang Wuzhou New Spring Group Co., Ltd. It includes details on the amounts raised, the allocation of funds, and the changes in investment projects, reflecting the company's compliance with regulatory requirements. Group 1: Fundraising Overview - The company raised a total of RMB 33,000 million through the issuance of 3,300,000 convertible bonds at a face value of RMB 100 each, with a net amount of RMB 31,688.16 million after deducting related expenses [3][4]. - A subsequent non-public offering raised RMB 53,300 million, with a net amount of RMB 53,122.35 million after deducting underwriting and related fees [4][6]. Group 2: Fund Utilization and Changes - As of March 31, 2025, the company had RMB 32,158.75 million from the convertible bonds and RMB 1,676.96 million from the non-public offering in its bank accounts [5][6]. - The company decided to change the investment project from a wind turbine bearing project to a core component development project for line control systems, reflecting a strategic shift in response to market conditions [6][7]. Group 3: Investment Project Performance - The actual investment in the "Intelligent Equipment and Aerospace High-Performance Bearings" project was RMB 30,637.70 million, which is lower than the committed investment of RMB 31,688.16 million, resulting in a difference of RMB 1,050.46 million [8][11]. - The company reported that the actual investment amount completed 75.31% of the committed amount, with ongoing projects progressing as planned [11][12]. Group 4: Temporary Fund Management - The company has utilized idle fundraising for temporary liquidity support, with amounts of RMB 22,000 million and RMB 15,000 million approved for temporary use in different instances, all of which were returned within the stipulated time [15][17]. - As of March 31, 2025, there was an outstanding balance of RMB 11,500 million from the temporary use of idle funds [17]. Group 5: Financial Management - The company has engaged in cash management for idle funds, with approvals for various amounts over time, ensuring that no funds were left in cash management products that had not matured as of March 31, 2025 [20][21].