Group 1 - The company Zhejiang Taihong Wanli Technology Co., Ltd. has successfully completed its initial public offering (IPO) of 85.10 million shares at a price of 8.60 RMB per share, raising a total of 731.86 million RMB, with a net amount of 628.78 million RMB after deducting issuance costs [2][3] - The company has established a special account for the raised funds and signed a four-party supervision agreement involving the company, its wholly-owned subsidiary Hebei Xintaihong Auto Parts Co., Ltd., the bank, and the sponsor [3][4] - The board of directors has approved the use of up to 175 million RMB of the raised funds to provide loans to its subsidiary for the expansion project of the "Hebei Wangdu Auto Stamping and Welding Sub-assembly Expansion Project" [3][4] Group 2 - The special account for the raised funds has been opened at Shanghai Pudong Development Bank, with the account number provided, and as of May 26, 2025, the account balance is 0 RMB [4][5] - The agreement stipulates that the funds in the special account can only be used for the designated project and cannot be used for other purposes [4][5] - The sponsor is responsible for supervising the use of the raised funds and must conduct regular checks and provide reports on the account status [5][6]