Core Viewpoint - The company plans to adjust the investment construction progress of certain fundraising projects, specifically postponing the expected operational date of the "Composite External Insulation Product Expansion Project (Phase I)" from August 2025 to December 31, 2025, and will conclude the "Digital Factory Construction Project for Composite Crossarms" [1][2][13]. Fundraising Project Adjustments - The company will transfer the surplus fundraising amount of 11.894 million yuan (after deducting bank fees) to the "Composite External Insulation Product Expansion Project (Phase I)" [1][11]. - The total amount raised from the non-public offering in 2020 was approximately 424 million yuan, with a net amount of about 418 million yuan after deducting issuance costs [2][4]. Project Status and Financial Management - As of July 31, 2025, the "Composite External Insulation Product Expansion Project (Phase I)" has completed the process route verification and design, equipment selection, and partial equipment procurement and installation [8][9]. - The company has effectively managed idle fundraising by investing in financial products, generating additional income [11][12]. Board Decisions and Compliance - The adjustments were approved in the board meeting held on August 12, 2025, and do not require shareholder approval as they do not alter the project implementation entity, fundraising purposes, or investment scale [12][13]. - The sponsor, Huatai United Securities, has confirmed that the adjustments comply with relevant regulations and will not adversely affect the company's operations or shareholder interests [12][14].

Fundraising Overview - The company raised a total of RMB 423.9999 million through a private placement, with a net amount of RMB 418.2831 million after deducting underwriting and other expenses [1] - As of June 30, 2025, the remaining balance of the raised funds in special accounts is RMB 95.9892 million [1][2] Fund Usage - The company has strictly adhered to its fundraising management system, ensuring compliance with relevant regulations and no violations reported [1][2] - No idle funds were temporarily used to supplement working capital as of June 30, 2025 [2][3] Cash Management - The company approved the use of up to RMB 150 million of idle funds for cash management, with a total investment in principal-protected cash management projects amounting to RMB 361 million, yielding RMB 658,000 in returns [2][3] Project Investment Status - As of June 30, 2025, the total amount invested in fundraising projects is RMB 346.6428 million, with a total of RMB 110.1169 million invested in the current year [2][3] - The company has not experienced any changes in the use of funds for investment projects during the reporting period [2][3] Project Adjustments - The company has adjusted the expected completion dates for several projects, including extending the completion date for the "Transformer Equipment Sealing Component Production Expansion Project" to April 2025 [3][4] - The company has also approved the reallocation of surplus funds from completed projects to other fundraising projects [3][4]