Group 1 - The core point of the article highlights that Chao Yan Co., Ltd. (301602.SZ) has reached a new low in its stock price since its listing, with a closing price of 20.30 yuan, reflecting a decline of 2.17% and a total market capitalization of 8.695 billion yuan [1][1][1] Group 2 - Chao Yan Co., Ltd. was listed on the Shenzhen Stock Exchange's Growth Enterprise Market on January 22, 2025, with a total public offering of 64.249 million shares at an issuance price of 6.70 yuan per share [1][1][1] - The total amount of funds raised from the initial public offering was 430.4713 million yuan, with a net amount of 384.3632 million yuan after deducting issuance costs, exceeding the original plan by 72.9057 million yuan [1][1][1] - The company plans to use the raised funds for various projects, including medical imaging product research and industrial non-destructive testing system development, among others, with a total planned fundraising of 311.4575 million yuan [1][1][1]

Summary of Key Points Core Viewpoint - The company, Shantou Ultrasonic Instrument Research Institute Co., Ltd., is utilizing raised funds to replace self-raised funds invested in its fundraising projects, following necessary approvals and regulations [1][5][7]. Group 1: Fundraising Overview - The company completed its initial public offering (IPO) of 64,249,446 shares at a price of 6.70 RMB per share, raising a total of 430,471,288.20 RMB, with a net amount of 384,363,201.32 RMB after deducting issuance costs [1][2]. - The funds have been stored in a dedicated account, and a tripartite supervision agreement has been signed with the sponsor and the bank [2][3]. Group 2: Investment Project Details - The company plans to invest the raised funds in specific projects, with a total investment amount of 31,145.75 million RMB [3][4]. - Adjustments to the investment structure and usage of excess funds have been approved by the shareholders' meeting [3][5]. Group 3: Use of Self-raised Funds - As of June 30, 2025, the company has utilized 8.7146 million RMB of self-raised funds for its projects, with an equivalent amount planned for replacement by the raised funds [5][6]. - The specific projects include medical imaging product development and industrial non-destructive testing system research [6]. Group 4: Approval Process - The board of directors and the supervisory board have approved the use of raised funds to replace self-raised funds, confirming compliance with legal regulations and ensuring no adverse effects on shareholder interests [7]. - The sponsor has verified that the replacement of funds does not alter the intended use of the raised funds or harm shareholder interests [7].