Core Points - The company announced the termination of the "Smart Mining Project" due to a downturn in the downstream coal industry, leading to reduced spending on information systems and cloud products [1] - As of October 31, 2025, the project has accumulated an investment of 9.0761 million yuan, with remaining raised funds of 84.4161 million yuan to continue being stored in the original special account [1] - The "Research and Development Center Construction Project" has experienced delays, with the expected completion date pushed from January 2026 to January 2027 [1] - The board of directors and the supervisory board approved the relevant proposals on November 20, 2025, but the termination of the project still requires approval from the shareholders' meeting [1]