Fundraising Overview - The company has been approved to publicly issue 23,508,800 shares at a price of RMB 50.31 per share, raising a total of RMB 1,182,727,728, with excess funds amounting to RMB 693,369,702.40 after deducting issuance costs [1][2]. Fund Utilization - The company has outlined its fundraising projects and usage plans, with specific investment amounts and progress reported as of May 31, 2025 [2][3]. Project Delay Reasons - The company has decided to postpone certain fundraising projects due to market conditions and overall project progress, ensuring that the project implementation entities, investment purposes, and scales remain unchanged [3][4]. Impact of Project Delay - The delay in fundraising projects is a cautious decision based on actual progress, and it does not affect the company's current operations significantly. The investment total, project content, and implementation entities remain unchanged, ensuring no harm to shareholder interests [4][5]. Approval Procedures - The company's board of directors and supervisory board have approved the project delays, confirming that necessary procedures were followed and that the delays do not alter the intended use of funds [5]. Sponsor's Verification - The sponsor has verified that the project delays have been approved by the board and supervisory board, and there are no changes to the intended use of funds, complying with relevant regulations [5].

Financial Performance - The company's main revenue decreased by 16.14% year-on-year, and the net profit attributable to shareholders dropped by 38.02% in 2024 [1] - The operating income fell by 5.50%, while the net profit attributable to shareholders decreased by 52.83%, primarily due to the impact of the FDA import warning [2] - The medical device revenue declined by 23.56%, while animal devices and laboratory consumables grew by 20.83% and 66.08% respectively [4] Strategic Measures - The company is actively constructing overseas factories and expanding into emerging markets to mitigate the impact of trade barriers [1] - Plans to enhance product R&D to develop high-value products and improve risk resistance [1] - Future growth drivers include a robust R&D system, advanced technology, and a comprehensive quality management system [6][7] Future Plans - The company plans to hold the annual shareholders' meeting on May 16, 2025, to discuss the profit distribution plan for 2024 [3] - There are intentions to explore new business integrations and industry acquisitions to strengthen core business and expand into new markets [8] - The company is focusing on optimizing product and market structure through domestic and overseas project advancements [16] Market Outlook - The Chinese medical consumables market reached a scale of 200 billion CNY in 2024, with low-value medical consumables accounting for 147 billion CNY [9] - The increasing healthcare spending and improved medical insurance system in China are expected to drive market growth [9] Operational Updates - The company has completed the construction of a production facility for 920 million medical injection devices, which is now operational [10] - The Cambodian project has progressed to trial production as of the first quarter of 2025 [14] - The company is managing its cash flow effectively and has plans for further investment to enhance shareholder returns [15] Regulatory Matters - The company is in active communication with the FDA regarding the removal of the import warning, aiming to restore normal exports to the U.S. [17]