Core Viewpoint - The company, Hunan Lichen Industrial Co., Ltd., has released its 2025 semi-annual report, confirming that it will not distribute cash dividends or issue bonus shares, and has provided details on its fundraising and usage of funds [3][12][34]. Group 1: Company Overview - Hunan Lichen Industrial Co., Ltd. held its sixth board meeting on August 28, 2025, with all directors present [2][8]. - The company confirmed that there were no changes in its controlling shareholder or actual controller during the reporting period [5][6]. Group 2: Financial Data and Fundraising - The company raised a total of RMB 1,023.975 million through its initial public offering, with a net amount of RMB 936.6999 million after deducting underwriting fees [20]. - As of June 30, 2025, the company had a remaining balance of RMB 55.0875 million in its fundraising account [21]. Group 3: Fund Management and Usage - The company has established a fundraising management system in compliance with relevant regulations, ensuring that the funds are stored and used appropriately [21][34]. - The company reported that it has not used idle fundraising for cash management during the reporting period, and there are no instances of using idle funds to temporarily supplement working capital [27][29]. Group 4: Project Updates - The company has completed several fundraising projects, including the "15,000 tons green surfactant project" and the "8,000 tons new green surfactant materials project," which have reached operational status [29]. - The company has terminated certain fundraising projects to improve fund utilization efficiency, reallocating the remaining funds to support daily operations and business development [29][30].