Core Viewpoint - The company has completed the "Industrial Artificial Intelligence Algorithm and Software Platform R&D Project" and will allocate the remaining funds to other fundraising projects, optimizing resource allocation and improving the efficiency of fund usage [1][10]. Fundraising Basic Information - The company raised a total of RMB 1,973.70 million from the initial public offering of 90 million shares at a price of RMB 21.93 per share, with a net amount of RMB 1,805.28 million after deducting issuance costs [2]. - An additional 13.5 million shares were issued through the exercise of the over-allotment option, raising an extra RMB 296.06 million, resulting in a net amount of RMB 275.26 million after costs [3]. Fundraising Project Status - The company has approved the use of excess funds for various projects, including the "Technology and Development Reserve Fund" and the "Visual + AI Virtual Reality Content Production Center" [4][5]. Fund Usage and Surplus Situation - The "Industrial Artificial Intelligence Algorithm and Software Platform R&D Project" has been completed, leading to a surplus in funds due to effective management and optimization of project expenditures [6][8]. Reasons for Fund Surplus - The surplus is attributed to careful project management, optimization of R&D paths, and effective cash management of idle funds, which generated additional income [8]. Planned Use of Surplus Funds - The surplus funds will be redirected to the "Industrial Artificial Intelligence Taihu Industrial Base" for construction and equipment expenses [9]. Impact of Fund Allocation Changes - The decision to conclude the project and reallocate surplus funds is seen as a prudent move that aligns with the company's operational realities and long-term development goals, benefiting shareholders [10]. Special Opinions - The sponsor institution has confirmed that the decision to conclude the project and reallocate funds has followed necessary approval procedures and complies with relevant regulations [11][12].

南财智讯11月17日电，凌云光公告，公司于2025年11月17日召开第二届董事会第二十二次会议，审议通 过《关于部分募投项目结项并将节余募集资金用于其他募投项目的议案》，同意将募投项目"工业人工 智能算法与软件平台研发项目"结项，该项目已达到预期目标。截至2025年11月17日，该项目募集资金 承诺投资总额为29,000.00万元，累计投入金额为23,874.89万元，待支付款项为505.32万元，利息收入和 理财产品投资收益扣除手续费后净额为1,345.18万元，预计节余募集资金金额为5,964.97万元。公司拟将 节余资金用于募投项目"工业人工智能太湖产业基地"的工程建设费用和软硬件设备购置费用等资本性支 出。待支付款项完成支付且节余募集资金转出后，公司将注销相关募集资金专户。 ...

Summary of Key Points Core Viewpoint The report provides a detailed account of the fundraising activities and the utilization of raised funds by Lingyun Technology Co., Ltd. for the first half of 2025, ensuring compliance with regulatory requirements and transparency in financial management. Fundraising Overview - The total amount raised through the initial public offering (IPO) was RMB 197,370 million, with a net amount of RMB 180,528.33 million after deducting issuance costs [1] - An additional RMB 27,526.23 million was raised through the full exercise of the over-allotment option, bringing the total net fundraising to RMB 208,054.56 million [1] Fund Utilization and Balance - As of June 30, 2025, the company had utilized RMB 104,206.47 million for project investments and had a net interest income of RMB 9,103.51 million [2] - The remaining balance of the raised funds was RMB 46,163.01 million, with no discrepancies reported between the expected and actual balances [2][3] Fund Management Practices - The company has established a dedicated fund management system, including the opening of special accounts for fundraising and signing tripartite agreements with banks and sponsors to ensure proper fund storage and usage [2] - As of June 30, 2025, the company maintained nine fundraising special accounts and three fixed deposit accounts, with a total balance of RMB 461,630,108.09 [2] Project Funding Status - The report indicates that there were no instances of using raised funds to replace pre-invested project funds or to supplement working capital during the reporting period [3] - The company has approved the use of temporarily idle funds for cash management, allowing for investments in safe and liquid financial products up to RMB 120,000 million [2][3] Changes in Funded Projects - There were no changes in the fundraising projects or their implementation during the reporting period, and no projects were transferred or replaced [3] - The company has extended the timeline for certain projects without altering their investment purposes or scales, particularly for the "Industrial AI Algorithm and Software Platform R&D Project" [3][4]

Core Viewpoint - The company has decided to postpone the timeline for the "Industrial Artificial Intelligence Algorithm and Software Platform R&D Project" while maintaining the investment purpose and scale of the fundraising project [1][3]. Fundraising Basic Information - The company raised a total of RMB 1,973.70 million through its initial public offering, with a net amount of RMB 1,805.28 million after deducting issuance costs [1]. - The company has established a special account for the management of the raised funds, which are fully stored in this account [2]. Postponement Details - The project was originally scheduled to reach its usable state by May 2025, but this date has been adjusted to November 2025 [3]. - The postponement is based on the strategic development plan of the company to enhance its machine vision algorithm capabilities in response to increasing customer demands [4]. Impact of Postponement - The postponement will not change the investment content or the implementation subject of the project and is not expected to have a significant adverse impact on the project's implementation [4]. - The decision aligns with the company's long-term development strategy and does not harm the interests of shareholders [4]. Opinions from Supervisory Bodies - The supervisory board agrees that the postponement does not alter the purpose of the raised funds or harm the interests of shareholders, viewing it as a reasonable adjustment based on actual project conditions [4]. - The sponsoring institution supports the decision, confirming that it complies with relevant regulations and does not affect the normal progress of the fundraising investment plan [4][5].

Core Viewpoint - The company has decided to postpone the completion date of its "Industrial Artificial Intelligence Algorithm and Software Platform R&D Project" from May 2025 to November 2025, while keeping the investment purpose and scale unchanged [1] Group 1: Project Details - The project was originally scheduled to be completed by May 2025, but the new completion date is set for November 2025 [1] - As of April 30, 2025, the company has invested a total of 215 million yuan in the project [1] Group 2: Rationale for Delay - The decision to delay the project is based on the rapid iteration and upgrading of AI technology [1] - The aim of the delay is to maintain a technological leadership advantage and improve the accuracy and effectiveness of the algorithm models [1]