Core Viewpoint - Zhejiang Fenglong Electric Co., Ltd. has disclosed its fundraising and usage report for the first half of 2025, confirming compliance with relevant regulations and highlighting the effective management of raised funds [1][19]. Fundraising Basic Situation - The company raised a total of RMB 245 million through the issuance of 2.45 million convertible bonds at a face value of RMB 100 each, with a net amount received of RMB 238.32 million after deducting various fees [2]. - The funds were confirmed by Tianjian Accounting Firm on January 14, 2021, ensuring the accuracy of the fundraising process [2]. Fund Usage and Management - The company has established a fundraising management system to ensure the funds are stored in dedicated accounts and used specifically for their intended purposes [3]. - As of June 30, 2025, the company had two dedicated fundraising accounts, with a total of RMB 1.9 billion temporarily idle funds being managed for cash management purposes [6]. Fund Usage Status - The company reported a total operating income of RMB 250.89 million for the first half of 2025, representing a 9.71% increase year-on-year, and a net profit of RMB 15.31 million, up 2,217.66% from the previous year [11]. - The company has not encountered any abnormal situations regarding the investment projects funded by the raised capital [7]. Financial Performance - The total assets of the company reached RMB 1.15 billion, a 1.69% increase from the previous year, while the net assets attributable to shareholders increased by 23.45% to RMB 944.12 million [11]. - The company has improved its profitability due to increased market demand and effective cost control measures, with significant growth in the garden machinery and automotive parts sectors [11][16]. Major Events - The company redeemed its convertible bonds on March 5, 2025, paying a total of RMB 1.15 million for 11,484 bonds, which were subsequently delisted from the Shenzhen Stock Exchange [16]. - The first employee stock ownership plan was completed and terminated during the reporting period [17][18]. Compliance and Reporting - The board of directors and the supervisory board have both approved the half-year report and the special report on the usage of raised funds, confirming that all disclosures are accurate and complete [19][26].