Fundraising Overview - The company raised a total of 304,465,200.00 RMB through a non-public offering of 22,620,000 shares at a price of 13.46 RMB per share, with a net amount of 299,191,994.34 RMB after deducting issuance costs [1][3] - As of June 30, 2025, the company has fully utilized the raised funds, totaling 307,738,979.79 RMB, which includes 173,510,804.21 RMB for project investments and 134,228,175.58 RMB for replenishing working capital [1][4] Fund Management - The company established a fundraising management system in compliance with relevant laws and regulations, including a tripartite supervision agreement with banks to ensure proper use of the funds [2][3] - The tripartite supervision agreement was terminated as the funds in the designated accounts were fully utilized and the accounts were closed by June 30, 2025 [2][3] Fund Usage - The company has used 118,335,682.85 RMB in the first half of 2025, with 3,489,586.28 RMB allocated to project investments and 114,846,096.57 RMB for working capital [4][5] - The company temporarily supplemented working capital with 115 million RMB from idle funds, which was fully returned to the designated account by May 21, 2025 [4][5] Project Adjustments - Several projects were terminated or concluded, including the "Yiwugong Trade Avenue Landscape Project," with remaining funds of 8,459,370.74 RMB allocated to working capital [5][6] - The company has adjusted the investment amounts for terminated projects, reallocating remaining funds to ensure operational liquidity [15][16] Compliance and Disclosure - The company confirmed that its fundraising usage and disclosures comply with legal and regulatory requirements, with no instances of misrepresentation or misuse of funds [7][8]