Group 1 - The company held its eighth meeting of the third board of directors on September 18, 2025, with all seven directors present, and the meeting was conducted in accordance with relevant laws and regulations [2][4] - The board approved the proposal to continue using part of the temporarily idle raised funds for cash management, with an amount not exceeding 80 million RMB, for a period not exceeding 12 months [2][23] - The company will invest in low-risk, high-liquidity, and capital-preserving financial products or deposit products, including but not limited to wealth management products, structured deposits, large certificates of deposit, and time deposits [7][15] Group 2 - The board also approved the revision of the "Selection System for Accounting Firms," aligning it with relevant laws and the company's actual needs [5][23] - The company has previously approved the use of up to 250 million RMB of temporarily idle raised funds for cash management in 2024, indicating a consistent strategy to enhance fund utilization efficiency [8][9] - The company aims to improve the efficiency of fund usage and increase shareholder returns while ensuring that the cash management does not affect the normal operation of the fundraising investment projects [14][22] Group 3 - The company has established a special account for the management and use of raised funds, ensuring that all funds are properly monitored and utilized [10][12] - The company will ensure compliance with relevant regulations and will not change the purpose of the raised funds through cash management [17][24] - The independent directors and internal audit department will oversee the use and management of the funds to mitigate risks [19][20]

Core Points - The company, Wenzhou Yuanfei Pet Toy Co., Ltd., has released its 2025 semi-annual report, highlighting its operational results, financial status, and future development plans [1] - The company will not distribute cash dividends or issue bonus shares for the reporting period [2] - The company has approved a profit distribution plan for the 2024 fiscal year, which includes a cash dividend of RMB 1.50 per 10 shares, totaling RMB 28,257,069.00 [5] Group 1: Company Overview - Wenzhou Yuanfei Pet Toy Co., Ltd. is engaged in the production of pet toys and related products [1] - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period [4] Group 2: Financial Data - The company raised a total of RMB 467.51 million from its initial public offering, with a net amount of RMB 408.71 million after deducting issuance costs [7] - As of June 30, 2025, the company has utilized RMB 2.78 million of the raised funds, with a remaining balance of RMB 84.47 million in the special account [7] Group 3: Fund Management - The company has established a management system for the raised funds, ensuring they are stored in a special account and used according to regulatory requirements [8] - A tripartite supervision agreement has been signed with several banks and the sponsor to manage the raised funds [8] Group 4: Project Changes - The company has changed the use of some raised funds, reallocating them from a project aimed at increasing production capacity for pet products to a new project focused on producing 22,000 tons of pet dry food [11] - The company has also adjusted the internal investment structure of its research and development center project while maintaining the project's implementation and funding purposes [11] Group 5: Compliance and Reporting - The company has confirmed that its disclosures regarding the use of raised funds are timely, accurate, and complete, with no violations found [18] - The board of directors has approved the semi-annual report and the special report on the management and actual use of raised funds [26]

Core Viewpoint - The company has decided to postpone the expected operational status date for the "Research and Development Center Construction Project" due to various factors affecting the project's execution timeline, ensuring that the quality of the investment is maintained and aligning with the company's long-term strategic goals [1][4]. Fundraising Project Situation - The company raised a total of RMB 467.51 million through the issuance of 34.1 million shares at a price of RMB 13.71 per share, with a net amount of RMB 408.71 million after deducting issuance costs [1]. - As of July 31, 2025, the company has allocated RMB 41.80 million to various projects, with a remaining balance of RMB 1.61 million [2][3]. Delay of Fundraising Projects - The expected operational status date for the "Research and Development Center Construction Project" has been postponed to December 31, 2026, due to delays in construction and approval processes [3][4]. - The delay is attributed to the project's location within the same building as another project, which has affected the overall timeline [3]. Impact of Delay - The postponement of the fundraising projects is deemed a prudent decision that will not adversely affect the company's operations or shareholder interests, and it complies with relevant regulations [4][5]. - The company aims to enhance the efficiency of fundraising usage and strengthen its ongoing operational capabilities through this adjustment [4]. Review Procedures and Opinions - The board of directors has approved the delay, considering it beneficial for the company's long-term development and in line with regulatory requirements [4][5]. - The sponsoring institution has confirmed that the decision followed necessary procedures and aligns with the company's business development plans [5].

Group 1 - The core idea of the article highlights the transformation of Pingyang County into a hub for pet products, driven by local entrepreneurs leveraging traditional industries and a growing domestic market for pet supplies [1][2][3]. - Pingyang County has approximately 100 pet product companies that collectively generate over 5 billion yuan in output value, with pet chew food exports accounting for more than half of the national total and pet leashes capturing one-third of the domestic market [1]. - The local government has encouraged diversification in the pet product sector, leading to the development of various categories including pet food, toys, and accessories, with companies innovating based on local resources [2][3]. Group 2 - The rise in consumer demand for quality pet products has created a significant niche market, prompting companies to expand their offerings beyond traditional items to include freeze-dried pet food and other innovative products [2]. - The establishment of a pet product collection store and a live-streaming base in Waterhead Town reflects the shift towards e-commerce and direct consumer engagement, with over 50 local pet brands participating [3]. - Plans are underway to develop pet-themed tourism routes and services, enhancing the integration of culture and tourism with the pet industry, thereby attracting more pet owners to the region [4][5].