Core Viewpoint - The company Zhejiang Publishing Media Co., Ltd. has successfully managed its fundraising activities, ensuring compliance with regulatory requirements and effective use of raised funds for its projects [1][15][16]. Fundraising Overview - The company was approved to issue 22,222,222.23 shares at a price of RMB 10.28 per share, raising a total of RMB 228,444.45 million, with a net amount of RMB 220,650.49 million after expenses [1]. - As of December 31, 2024, the company has utilized RMB 15,401.04 million of the raised funds in the current year, totaling RMB 97,361.86 million since the fundraising began, leaving a balance of RMB 56,469.52 million [2][4]. Fund Management - The company has established a multi-party supervision agreement with its sponsor and commercial banks to ensure the proper management and use of the raised funds, adhering to regulatory requirements [1][2]. - The company has not used any idle funds to temporarily supplement working capital as of December 31, 2024 [5]. Fund Usage and Projects - The company has approved the use of RMB 80,000.00 million of idle funds for cash management, with the balance of such investments as of December 31, 2024, also being RMB 80,000.00 million [6]. - The company has not used any excess funds for ongoing or new projects as of December 31, 2024 [7]. Project Updates - The company has decided to change the implementation entity for the "Torch Knowledge Service Platform Construction Project" to Zhejiang Publishing Group Digital Media Co., Ltd., which holds the necessary licenses [9][10]. - The implementation timeline for several projects, including the "Information System Upgrade Project" and the "Online Education Service Platform Construction Project," has been extended to July 2027 due to various challenges [11][12]. Compliance and Reporting - The company has received positive verification reports from its accounting firm and sponsor, confirming that its fundraising management and usage comply with relevant regulations and accurately reflect the situation [15][16][17].