Core Viewpoint - Shenzhen Lianying Laser Co., Ltd. has announced an extension of the construction period for its fundraising project, the "Digital Operation Center Construction Project," to July 2027, without changing the project's content, investment purpose, total investment, or implementing entity [1][6]. Fundraising Overview - The company raised a total of 989.9999 million RMB by issuing 36,330,275 shares at a price of 27.25 RMB per share, with net proceeds amounting to 972.9258 million RMB after deducting related expenses [1][2]. - The funds are being managed in a dedicated account, with agreements in place for three-party and four-party supervision [2][3]. Project Delay Details - The delay in the "Digital Operation Center Construction Project" is attributed to construction progress and increased demand for AI computing power, which has tightened the supply of storage and computing infrastructure, leading to longer hardware procurement and testing times [4]. - The project is currently in progress, with infrastructure and decoration works completed, while hardware investment and software development are ongoing [4]. Investment Plan and Measures - The company will continue to monitor the project's progress and implement plans to ensure the orderly advancement of the project, adhering to regulations regarding the use of raised funds [5]. Impact of Delay - The delay is a cautious decision based on actual project conditions and is not expected to adversely affect the company's normal operations or alter the investment content, total investment, or implementation methods of the project [6]. Approval Process - The board of directors approved the extension of the project timeline on January 30, 2026, and this decision does not require shareholder approval [7]. - The sponsor, CITIC Securities, has confirmed that the decision aligns with legal regulations and is in the best interest of the company and its shareholders [8][9].