Core Viewpoint - The company has completed certain fundraising projects and plans to permanently supplement its working capital with the remaining funds, which is deemed a prudent decision based on the actual progress of the projects and operational needs [1][6][8]. Fundraising Overview - The company raised a total of RMB 719,999,998.10 by issuing 41,618,497 shares at a price of RMB 17.3 per share, with a net amount of RMB 705,505,113.82 after deducting issuance costs [1][2]. - The funds are managed in a dedicated account with tripartite and quadripartite supervision agreements in place [2]. Fund Usage and Status - The raised funds were allocated to several projects, including the "High-end Special Material Equipment Intelligent Manufacturing Project," "Engineering Technology R&D Center," and "Ship and Marine Engineering Equipment Manufacturing Quality Improvement Project," as well as for working capital and debt repayment [2][3]. - As of June 30, 2025, the balance in the fundraising account was RMB 499,891,926.54 [3]. Project Completion and Surplus Funds - The "Engineering Technology R&D Center" project has reached its intended use status, allowing for its completion [4]. - The surplus funds from this project will be transferred to the company's general bank account for permanent working capital supplementation [5]. Reasons for Surplus Funds - The surplus is attributed to strict adherence to fundraising management regulations, cost-effective procurement practices, and the substitution of imported equipment with domestic alternatives, which significantly reduced costs [4][5]. Impact of Fund Reallocation - The decision to reallocate surplus funds is expected to enhance the efficiency of fund usage and align with the company's operational needs, without harming the interests of the company or its shareholders [6][8]. Review Procedures - The independent directors, board of directors, and supervisory board have all approved the decision to reallocate surplus funds, confirming compliance with relevant regulations and the absence of any detrimental effects on shareholder interests [6][8][9].