Core Viewpoint - The company is changing the investment scale of its fundraising projects and concluding some while introducing new projects to enhance its operational capabilities and respond to market demands. Summary by Sections Overview of Changes in Fundraising Projects - The company is adjusting the investment scale for the "Intelligent Cutting Head Expansion Project" and the "Intelligent Welding Robot and Control System Industrialization Project" and is concluding the "Ultra-High Precision Drive Control Integrated R&D Project" [5][7]. - New projects include the "New R&D Center Phase II Project" with a total investment of 167.20 million yuan, the "Intelligent Production Line Robot Solutions and Industrialization Project" with an investment of 484.39 million yuan, and the "Lithium Battery Welding Intelligent Solutions and Industrialization Project" with an investment of 249.26 million yuan [2][12][21]. Fundraising Background - The company raised a total of 1.71 billion yuan from its initial public offering in 2019, with a net amount of approximately 1.61 billion yuan after deducting issuance costs [4][5]. - In 2021, the company raised approximately 958.40 million yuan through a private placement of shares [4][5]. Reasons for Changes in Investment Scale - The adjustments are based on the company's strategic development needs and the actual conditions of the projects, which have reached their intended operational status and R&D goals [9][10]. - The company has effectively controlled costs and optimized resource allocation during project implementation, leading to surplus funds [9][10][11]. New Project Details - The "New R&D Center Phase II Project" aims to improve the research and testing environment and expand the company's R&D, marketing, and sales teams [12][15]. - The "Intelligent Production Line Robot Solutions and Industrialization Project" focuses on developing next-generation intelligent robotic solutions for hazardous jobs like welding and grinding, with a projected investment of 484.39 million yuan and an expected internal rate of return of 26.93% [21][22]. - The "Lithium Battery Welding Intelligent Solutions and Industrialization Project" aims to enhance the safety and reliability of lithium battery manufacturing processes, with a total investment of 249.26 million yuan and an expected internal rate of return of 10.38% [35][36]. Market Demand and Feasibility - The projects align with national policies promoting intelligent manufacturing and address significant market demands in the welding and lithium battery sectors [24][37]. - The company has a strong technical foundation and a skilled team, which enhances the feasibility of the new projects [27][40]. Approval and Management of New Projects - The new projects have completed feasibility studies and are undergoing necessary approvals from government departments [18][48]. - The company will establish dedicated fundraising accounts to manage the funds for the new projects, ensuring compliance with regulatory requirements [20][50].

Fundraising Overview - The company raised a total of RMB 1,714,500,000.00 from its initial public offering (IPO) by issuing 25 million shares at a price of RMB 68.58 per share, with all funds received by August 2, 2019 [1] - In a subsequent issuance, the company raised RMB 977,499,805.88 by issuing 3,665,441 shares at RMB 266.68 per share, with funds received by April 8, 2022 [1] Fund Utilization and Balance - As of June 30, 2025, the total balance of the fundraising account was RMB 181,096,987.54 from the IPO and RMB 172,270,328.39 from the subsequent issuance [1][2] - The company utilized RMB 498,760,103.50 for project expenditures and RMB 440,000,000.00 for financial products that have not been redeemed from the IPO funds [1] - From the second issuance, RMB 362,069,872.39 was used for project expenditures and RMB 450,000,000.00 for financial products that have not been redeemed [1] Fund Management Practices - The company established a fundraising management system in compliance with regulatory requirements, ensuring that all funds are stored in dedicated accounts approved by the board [2] - A total of six fundraising special accounts were opened, including accounts for subsidiaries, with specific agreements in place for fund storage and management [2][3] Investment Projects and Financial Management - The company has not engaged in any pre-investment or replacement of fundraising projects during the reporting period [5] - The company has utilized idle fundraising funds for cash management, investing up to RMB 1,330 million in safe and liquid financial products [5] - As of June 30, 2025, the company had invested RMB 993,300,000.00 from the IPO funds in financial products, with RMB 949,300,000.00 redeemed and RMB 44,000,000.00 remaining [5][6] Project Adjustments and Fund Usage - The company approved the use of RMB 160 million from surplus fundraising for permanent working capital [7] - Adjustments were made to the timelines for certain investment projects, with expected completion dates extended to December 2025 [7] - The company has not changed the use of funds for any investment projects during the reporting period [7]