Fundraising Overview - The company raised a total of RMB 1,670.09 million through the issuance of 46,245,200 shares at a price of RMB 36.00 per share, with net proceeds after expenses amounting to RMB 1,670.09 million [1][2] - The total planned investment for the fundraising projects is RMB 1,000.06 million, with the company utilizing RMB 1,097.02 million of the raised funds as of June 30, 2025 [1][2] Fund Utilization - As of June 30, 2025, the company has used RMB 1,097.01 million of the raised funds, with a remaining balance of RMB 257.32 million in the special account [1][2] - The company has generated RMB 75.48 million in interest income from the special account, net of fees [1][2] Project Investment Details - The company has invested in several projects, including: - Artificial Intelligence Algorithm Platform Upgrade Project: Actual investment of RMB 120.25 million, exceeding the commitment by RMB 13.56 million [2][3] - Artificial Intelligence Innovation Application R&D Project: Actual investment of RMB 98.56 million, exceeding the commitment by RMB 0.40 million [2][3] - Marketing Service System Upgrade Project: Actual investment of RMB 76.14 million, exceeding the commitment by RMB 0.40 million [2][3] - Multi-modal Large Model Technology and Application R&D Project: Actual investment of RMB 301.87 million, slightly exceeding the commitment by RMB 0.19 million [2][3] Surplus Fund Management - The company has utilized surplus funds of RMB 402.00 million for permanent working capital supplementation as of June 30, 2025 [3][4] - The company has also approved the use of surplus funds for cash management, with a limit of RMB 600 million for temporary idle funds [3][4] Regulatory Compliance - The company has established a fundraising management system in compliance with relevant laws and regulations, ensuring proper storage and usage of the raised funds [1][2] - The company has signed tripartite supervision agreements with the sponsor, subsidiaries, and banks to ensure compliance with fundraising regulations [1][2]

Core Viewpoint - The company has approved a change in the implementation location of its fundraising project "Multimodal Large Model Technology and Application R&D Project" from Yanqing District to Daxing District, aiming to enhance resource utilization efficiency and project management [2][3] Group 1: Project Location Change - The new implementation site is located in the core area of the Daxing District industrial zone, which offers ample office leasing resources and is well-connected to transportation, being 20 kilometers from Beijing Daxing International Airport and 32 kilometers from Beijing South Station [2] - The change is based on structural limitations of the original Yanqing site and aims to improve project cost control and accelerate the R&D progress of the fundraising project [2] Group 2: Project Implementation Assurance - The change only affects the implementation location and does not alter the project's content or the use of raised funds, ensuring that there is no harm to the company or its shareholders [3]

Fundraising Overview - The company raised a total of RMB 182,622.31 million from the public offering of 46,245,205 shares at a price of RMB 39.49 per share, with a net amount of RMB 167,009.02 million after deducting fees [1][4] - The company has an excess raised fund of RMB 67,009.02 million [1] Project Investment Status - The company announced the use of raised funds for the "Multimodal Large Model Technology and Application R&D Project," with a total investment of RMB 100,006.17 million allocated for this project [1][2] Change of Project Implementation Location - The implementation location for the "Multimodal Large Model Technology and Application R&D Project" is being changed from Yanqing District to Daxing District, while still maintaining the original location in Haidian District [1][2] - The new location in Daxing District is strategically positioned with ample office space and proximity to key transportation hubs, enhancing operational efficiency and project management [1][2] Impact of Location Change - The change in location aligns with the company's long-term development strategy and does not affect the project's content or the intended use of raised funds [3][4] - The company will adhere to relevant regulations and strengthen supervision over the use of raised funds to ensure legality and effectiveness [3][4] Review and Approval Process - The change in project location was approved by the company's board and supervisory committee, confirming compliance with regulatory requirements [3][4]