Core Viewpoint - The company has decided to postpone the expected completion dates for its fundraising projects, specifically the "Nanyang Intelligent Electrical Industrial Park Construction Project (Phase I)" and the "R&D Center Construction Project," to June 2026 due to various factors affecting project timelines [2][3][4]. Fundraising Overview - The company raised a total of RMB 262.35 million through its initial public offering, with a net amount of RMB 195.80 million after deducting issuance costs [2]. - The cumulative investment in the "Nanyang Intelligent Electrical Industrial Park Construction Project (Phase I)" is RMB 135.52 million, representing 69.22% of the planned investment [2]. Project Delay Details - The delay for the "Nanyang Intelligent Electrical Industrial Park Construction Project (Phase I)" is attributed to ongoing construction and the need for equipment installation and debugging, which has not yet reached a fully usable state [3]. - The "R&D Center Construction Project" requires an extension due to the optimization and upgrading of original R&D plans, which involves more complex processes and equipment selection [3]. Measures for Completion - The company will monitor the progress of the fundraising projects in real-time, develop implementation plans, optimize resource allocation, and ensure orderly advancement of subsequent construction [3]. Impact of Delay - The postponement of the fundraising projects is a prudent decision based on the current implementation status and does not alter the project subjects, methods, or intended use of funds, ensuring no significant adverse impact on the company's operations [4]. Approval Process - The board of directors and the supervisory board have approved the postponement of the project completion dates, and this matter does not require further shareholder meeting approval [4]. Sponsor's Review Opinion - The sponsor has confirmed that the postponement of the fundraising projects has been duly approved by the company's board and does not involve any changes to the intended use of funds, ensuring the protection of shareholder interests [4].