Summary of Key Points Core Viewpoint - The report provides a detailed account of the fundraising activities and the usage of raised funds by China National Heavy Duty Truck Group Jinan Truck Co., Ltd. for the year 2024, ensuring compliance with relevant regulations and transparency in financial management [1][2]. Fundraising Overview - The company raised a total of RMB 501,308.79 million through a non-public offering of 168,111,600 shares at a price of RMB 29.82 per share, with a net amount of RMB 500,138.33 million after deducting issuance costs [1][2]. - The funds were received on February 5, 2021, and verified by Ernst & Young Huaming [2]. Fund Usage and Current Balance - As of December 31, 2024, the company has utilized RMB 406,659.71 million of the raised funds, leaving a balance of RMB 107,402.39 million [2][5]. - The breakdown of fund usage includes RMB 266,659.71 million for the smart connected (new energy) heavy truck project and RMB 140,000 million for repaying bank loans and supplementing working capital [2][5]. Fund Management - The company has established a management system for the raised funds, which includes a tripartite supervision agreement with the bank and the sponsor to ensure proper usage and storage of the funds [3][4]. - The balance in the dedicated fund accounts as of December 31, 2024, totals RMB 102,371.47 million across various banks [4]. Cash Management - The company has approved the use of up to RMB 50,000 million of temporarily idle funds for cash management, ensuring that it does not affect the progress of investment projects or the company's normal operations [5][6]. - As of December 31, 2024, the company has utilized the approved amount for cash management, with specific details on the financial products used [8][10]. Project Implementation and Changes - There have been no changes in the implementation locations or methods for the fundraising projects as of December 31, 2024 [5][11]. - The company has reported that the smart connected (new energy) heavy truck project will have its completion date extended from June 2024 to December 2026 [11]. Compliance and Disclosure - The company confirms that all disclosures related to the usage of raised funds are timely, accurate, and complete, with no violations in fund management or disclosure practices [11].