Fundraising Overview - The company raised a total of RMB 119 million by issuing 68 million shares at RMB 17.50 per share, with a net amount of RMB 106.25 million after deducting issuance costs of RMB 12.75 million [1] - As of June 30, 2025, the company has utilized RMB 99.23 million of the raised funds, with a remaining balance of RMB 5,072.57 [1][2] Fund Management - The company has established a dedicated account for managing the raised funds, ensuring compliance with relevant regulations and protecting investor interests [1] - The company has signed a tripartite supervision agreement with its sponsor and the bank managing the funds, which is functioning normally as of June 30, 2025 [1] Fund Utilization - The company has not replaced any of the raised funds with its own prior investments [1] - A total of RMB 11.6 million of temporarily idle funds has been approved for cash management, with investments in safe and liquid financial products [1] - The company has not used idle funds to temporarily supplement working capital during the reporting period [1][2] Project Status - The company has completed the projects "New Generation Laser Display Product R&D and Industrialization" and "Headquarters R&D Center Project," reallocating surplus funds to permanent working capital [1][3] - The expected output from the "New Generation Laser Display Product R&D" project is 135,000 units per year, but actual production has been affected by market demand and supply chain issues [3] Compliance and Reporting - The company has adhered to all relevant laws and regulations regarding the use and disclosure of raised funds, with no significant issues reported [1][2] - The company has not experienced any abnormal situations regarding the investment projects funded by the raised capital [2]

Fundraising Overview - The company raised a total of RMB 119 million from its initial public offering (IPO), with a net amount of RMB 106.25 million after deducting issuance costs of RMB 12.75 million [1] - The IPO involved the issuance of 68 million shares at a price of RMB 17.50 per share [1] Investment Project Status - The net amount raised is planned to be invested in specific projects totaling RMB 100 million, with adjustments made to the expected operational status dates for several projects [2] - The project "New Generation Laser Display Product R&D and Industrialization" is now expected to reach operational status by December 2022, while the "Headquarters R&D Center Project" and "Information System Upgrade Project" have been postponed to March 2025 [2] Use of Excess Funds - The company has approved the use of excess funds for share repurchase, with a total repurchase amount not less than RMB 10 million and not exceeding RMB 20 million, at a price not exceeding RMB 26.89 per share [3][4] - As of June 30, 2025, the total excess funds amount to RMB 70.14 million, with RMB 5.07 million planned for permanent working capital supplementation [5] Board and Supervisory Committee Approval - The board of directors approved the use of excess funds for permanent working capital on August 28, 2025, pending shareholder approval [6] - The supervisory committee also reviewed and agreed that the use of excess funds for working capital would enhance fund utilization efficiency without significantly impacting normal operations [6] Sponsor's Verification Opinion - The sponsor, Huatai United Securities, confirmed that the use of excess funds for permanent working capital complies with relevant regulations and does not harm the interests of shareholders, particularly minority shareholders [7][8]