Fundraising Overview - The company raised a total of RMB 1,854,157,424.00 from the public offering of 27,806,800 shares at a price of RMB 66.68 per share, with a net amount of RMB 1,709,292,953.28 after deducting issuance costs [1] - As of June 30, 2025, the company has invested RMB 1,068,791,172.99 in projects funded by the raised capital [2] Fund Management - The company has established a fundraising management system to ensure the proper use of raised funds, adhering to principles of regulation, safety, efficiency, and transparency [2] - Multiple special accounts for fundraising have been opened at various banks, including Shanghai Pudong Development Bank and China Merchants Bank, with a tripartite supervision agreement in place [3][4] Fund Usage and Status - As of June 30, 2025, the balance of the fundraising accounts was RMB 85,727,172.32, with additional investments in financial products totaling RMB 610 million [6][15] - The company has utilized part of the idle funds for cash management, generating a total of RMB 164,120,630.38 in investment income by June 30, 2025 [15] Project Investment and Adjustments - The company has made significant adjustments to its investment projects, including the termination of the East Dongying project due to regulatory and market conditions, reallocating funds to other projects [8][9] - The company has also postponed several projects, including the semiconductor materials research laboratory and the light-curing technology research center, due to various external factors and strategic realignments [10][12] Financial Performance - The company reported a total investment of RMB 59,317,808.84 in the current year, with a cumulative investment of RMB 1,128,108,981.83 in various projects [7][8] - The proportion of funds reallocated from the original investment projects reached 78.38% [7] Future Outlook - The company plans to continue its focus on the light-curing and semiconductor industries, with ongoing adjustments to its project timelines and investment strategies to align with market demands [11][14]

Core Viewpoint - Jiu Ri New Materials (688199.SH) reported a revenue of 1.488 billion yuan for 2024, marking a year-on-year increase of 20.52%, while the net profit attributable to shareholders was a loss of 53.76 million yuan, an improvement from the previous year's loss of 96.14 million yuan [1][2] Financial Performance Summary - **Revenue**: The company achieved an operating revenue of 1.488 billion yuan in 2024, up 20.52% from 1.234 billion yuan in 2023 [1][2] - **Net Profit**: The net profit attributable to shareholders was -53.76 million yuan, compared to -96.14 million yuan in the previous year, indicating a reduction in losses [1][2] - **Net Profit Excluding Non-Recurring Items**: The net profit excluding non-recurring items was -62.78 million yuan, an improvement from -113.03 million yuan year-on-year [1][2] - **Cash Flow**: The net cash flow from operating activities was 74.14 million yuan, reflecting a year-on-year increase of 3.84% [1][2] 2025 Q1 Performance Summary - **Revenue**: In the first quarter of 2025, the company reported an operating revenue of 356.04 million yuan, a slight decrease of 0.15% compared to 356.58 million yuan in the same period last year [3][4] - **Net Profit**: The net profit attributable to shareholders was -10.52 million yuan, worsening from -4.39 million yuan in the previous year [3][4] - **Net Profit Excluding Non-Recurring Items**: The net profit excluding non-recurring items was -11.00 million yuan, compared to -8.93 million yuan year-on-year [3][4] - **Cash Flow**: The net cash flow from operating activities was -48.20 million yuan, compared to -38.89 million yuan in the same period last year [3][4] Company Background - Jiu Ri New Materials was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on November 5, 2019, with an issuance of 27.81 million shares at a price of 66.68 yuan per share [4] - The total amount raised from the issuance was 1.854 billion yuan, with a net amount of 1.709 billion yuan, exceeding the original plan by 113.87 million yuan [5] - The company plans to use the raised funds for the construction of a production project for 87,000 tons of light-curing materials and for working capital [5]