Core Viewpoint - The report outlines the fundraising activities and usage of funds by Anhui Huaheng Biological Technology Co., Ltd., detailing the amounts raised, their allocation, and compliance with regulatory requirements [1][2][3]. Fundraising Overview - In 2021, the company raised a total of RMB 625.32 million by issuing 27 million shares at RMB 23.16 each, with a net amount of RMB 559.26 million after deducting issuance costs of RMB 66.06 million [1]. - As of June 30, 2025, the company reported the usage and balance of the funds raised from the 2021 IPO [2]. Fund Usage and Surplus - The company has completed the fundraising projects and decided to permanently supplement working capital with surplus funds from two projects: "5000 tons/year fermentation method for alanine technical transformation expansion project" and "alternating annual production of 25,000 tons of alanine and valine project" [3]. 2022 Fundraising Activities - In 2024, the company raised RMB 699.99 million by issuing 21,122,510 shares at RMB 33.14 each, with a net amount of RMB 683.81 million after deducting issuance costs of RMB 16.19 million [4]. - The funds from the 2022 issuance were also managed under strict regulatory compliance [5][6]. Fund Management - The company has established a fundraising management system to ensure the proper storage, approval, and usage of the raised funds, adhering to relevant laws and regulations [5]. - Specific agreements were signed with banks to ensure the funds are stored in dedicated accounts, ensuring transparency and compliance [6]. Actual Fund Usage - As of June 30, 2025, the company utilized RMB 456.93 million from the 2021 IPO funds and RMB 684.05 million from the 2022 issuance for related projects [7]. - The company has not used idle funds for temporary working capital supplementation or cash management during the reporting period [9][10]. Project Adjustments - In March 2025, the company approved the addition of new products to existing projects, including L-valine and inositol, as well as increasing production capacity for other bio-based products [11]. Compliance and Reporting - The company has complied with all relevant regulations regarding the usage and disclosure of fundraising activities, with no violations reported [13].