Core Viewpoint - The company has completed the "New Material Expansion and Automation Upgrade Project" and will allocate the surplus funds of RMB 227,400 to the "Research and Development Center and Information Technology Construction Project" [1][5][6] Fundraising Overview - The company was approved to publicly issue 40,000,800 A-shares at a price of RMB 19.20 per share, raising a total of RMB 768.0154 million, with a net amount of RMB 700.9311 million after deducting issuance costs [2][3] - The total planned investment for the projects was RMB 1,095.9749 million, but the actual net amount available for investment was RMB 700.9311 million due to lower fundraising [3][4] Project Completion and Surplus Funds - The "New Material Expansion and Automation Upgrade Project" has reached a usable state, with total funds invested amounting to RMB 52.5744 million, and a surplus of RMB 227,400 [4][5] - The surplus was primarily due to cash management of idle funds and accrued interest during the holding period [5] Future Fund Allocation - The company plans to use the entire surplus from the completed project for the "Research and Development Center and Information Technology Construction Project" [5][6] - Remaining payments for the completed project will continue to be held in a dedicated account until all contractual obligations are fulfilled [5] Approval Process - The board of directors and the supervisory board approved the allocation of surplus funds on June 23, 2025, confirming that the decision aligns with the company's operational needs and enhances fund utilization efficiency [6][7]