Core Points - The company has approved multiple amendments to internal regulations and systems, including the insider information registration system and internal control system, with unanimous support from the board [1][2][3][4][5][6][7][8][9][10][11] - A notice for the 2025 first extraordinary shareholders' meeting has been issued, scheduled for September 9, 2025, utilizing both on-site and online voting methods [14][15][67][68] - The company plans to adjust the grant prices for its restricted stock incentive plans for 2023 and 2025, reducing the grant price from 18.05 yuan to 17.85 yuan for 2023 and from 24.00 yuan to 23.80 yuan for 2025 [16][17][18] - The company has decided to cancel a total of 47,054 shares of unvested restricted stock due to the departure of an incentive target and failure to meet performance conditions [20][21] - The company has confirmed the achievement of performance conditions for the second vesting period of the 2023 restricted stock incentive plan, allowing 250,320 shares to vest for 23 eligible participants [22][23] Fundraising and Financial Management - The company raised a total of 362.15 million yuan from its initial public offering, with a net amount of 313.72 million yuan after deducting fees [30][52] - As of June 30, 2025, the company has utilized 269.07 million yuan of the raised funds, with a remaining balance of 53.37 million yuan [31][32] - The company has permanently supplemented its working capital with 54.82 million yuan of excess raised funds, which is within the limit of 30% of the total excess funds [42] - The company has effectively managed its raised funds, ensuring compliance with regulations and achieving a certain level of investment income from cash management activities [49][58] Project Updates - The company has completed several fundraising projects, including the smart distribution network monitoring system upgrade and the smart vending control system upgrade, and plans to use the remaining funds for working capital [51][59] - The company has made adjustments to its fundraising project plans, including changing the focus from the smart tank remote monitoring system to the smart low-voltage distribution solution project due to market challenges [46][54]

Core Viewpoint - Beijing Yingtan Network Technology Co., Ltd. has provided a detailed report on the management and usage of raised funds, highlighting the total amount raised, its allocation, and the current balance as of June 30, 2025 [1][2][12]. Fundraising Overview - The company raised a total of RMB 362.15 million through its initial public offering, with a net amount of RMB 313.72 million after deducting various fees [1]. - As of December 31, 2024, the cumulative amount used from the raised funds was RMB 269.07 million, with a remaining balance of RMB 53.37 million [2]. Fund Usage and Balance - The company has allocated funds to various projects, including RMB 4.86 million for the smart distribution network monitoring system upgrade, RMB 4.30 million for the intelligent vehicle networking system development, and RMB 5.95 million for the smart low-voltage distribution solution development [2]. - The total interest income and cash management returns, after deducting bank fees, amounted to RMB 17.78 million as of June 30, 2025 [2][12]. Fund Management Practices - The company has established a dedicated account for managing the raised funds, ensuring strict compliance with regulatory requirements and protecting investor interests [3][9]. - A three-party supervision agreement has been signed with the bank and the sponsor to ensure the funds are used appropriately [3]. Fund Allocation and Adjustments - The company has used part of the raised funds to replace self-raised funds for projects, totaling RMB 27.53 million [8]. - The company has also decided to permanently supplement working capital with surplus funds, amounting to RMB 54.82 million as of June 30, 2025 [12]. Project Changes and Delays - The company has changed the project focus from the "Intelligent Tank Remote Monitoring (RTM) System Development" to the "Smart Low-Voltage Distribution Solution Development" due to market challenges [14]. - The completion date for the smart low-voltage distribution solution project has been extended to August 2025 due to delays in progress [15].

Core Viewpoint - The company has completed certain fundraising projects and plans to permanently supplement its working capital with the remaining funds, which is expected to enhance the efficiency of fund utilization without significantly impacting normal operations [8]. Fundraising Basic Situation - The company raised a total of RMB 362.15 million through its initial public offering, with a net amount of RMB 313.72 million after deducting issuance costs [1][2]. - The funds were deposited in a special account approved by the board and are subject to a tripartite supervision agreement with the sponsor and the bank [2]. Fundraising Investment Project Situation Investment Projects - The total investment amount for the fundraising projects is RMB 283.08 million, with RMB 263.35 million planned for use [2]. - Adjustments to the internal investment structure and project delays were approved in June 2022, maintaining the total investment amount and planned use of funds [2]. Surplus Fund Usage - The company plans to use RMB 15 million annually for permanent working capital supplementation, with RMB 10.57 million of surplus funds (including bank interest) allocated for this purpose in 2023 [4]. - The total surplus funds amount to RMB 29.52 million, which includes interest income [7]. Project Completion and Surplus Fund Situation - The completed fundraising projects include upgrades to the smart distribution network monitoring system, smart vending control system, R&D center construction, and others, with a total of RMB 24.63 million utilized [5][6]. - The remaining surplus funds will be permanently supplemented into working capital for daily operations [7]. Approval Process - The board and supervisory committee approved the proposal to conclude the fundraising projects and permanently supplement the surplus funds into working capital [6]. Sponsor's Verification Opinion - The sponsor believes that the decision to conclude the fundraising projects and permanently supplement the surplus funds is beneficial for improving fund utilization efficiency and does not adversely affect the company's operations or shareholder interests [8].