Summary of Key Points Core Viewpoint - The company has decided to extend the implementation period for a specific fundraising project, "Optimization of Quality Traceability and Analysis System Based on Big Data," until December 31, 2027, due to technological advancements and market demands [1][7][11]. Fundraising Overview - The company raised a total of RMB 710.38 million by issuing 22 million new shares at a price of RMB 32.29 per share, with a net amount of RMB 615.45 million after deducting issuance costs [1][11]. Fund Usage Status - As of May 31, 2025, the cumulative amount used for the fundraising project was RMB 25.97 million, with RMB 8.86 million specifically allocated to the quality traceability project [2][3]. Project Delay Details - The delay in the project is attributed to the need to adopt a new technology base that meets domestic innovation requirements and incorporates knowledge graph technology for enhanced functionality [4][5][6]. Reasons for Project Delay - The original technology used was outdated, and the company aims to improve the project by integrating a domestic big data platform and advanced analytical models to enhance efficiency and quality in traceability [5][6]. Expected Completion and Investment Plan - The new completion date for the project is set for December 31, 2027, with funds to be invested in phases based on actual progress [6][7]. Measures to Ensure Timely Completion - The company will monitor the project's progress closely, optimize resource allocation, and adapt to macroeconomic changes to ensure timely completion [7]. Impact of Project Delay - The delay does not alter the project's implementation subject, total investment, or fund usage, and is not expected to adversely affect the company's normal operations [7][11]. Re-evaluation of Project Necessity and Feasibility - The project is deemed necessary due to increasing regulatory demands for quality traceability in key industries, and its feasibility is supported by advancements in technology and the company's resources [8][9]. Board and Supervisory Opinions - Both the board and supervisory committee have approved the extension of the project timeline, confirming that the decision aligns with legal regulations and does not harm shareholder interests [10][11].