Core Viewpoint - The report details the fundraising and usage status of Shanghai Chengdi Xiangjiang Data Technology Co., Ltd., highlighting the total amount raised, expenditures, and management of the funds as of June 30, 2025 [1][2]. Fundraising Overview - The company raised a total of RMB 1,200 million through convertible bonds issued in August 2020, with a net amount of RMB 1,193.77 million after deducting issuance costs [1][2]. - As of June 30, 2025, the company has utilized RMB 1,011.55 million of the raised funds, leaving a balance of RMB 32.82 million [1][2]. Fund Management - The company has established a dedicated fund management system in compliance with relevant laws and regulations, ensuring that funds are stored in special accounts and used appropriately for designated projects [1][2]. - The funds are stored in accounts at Shanghai Rural Commercial Bank and China Construction Bank, with a total of RMB 119.38 million initially deposited [2]. Fund Usage - The actual investment in projects as of June 30, 2025, amounts to RMB 1,011.55 million, with RMB 175.68 million used in the current year [3][4]. - The company has temporarily supplemented working capital with RMB 35 million and RMB 40 million from the raised funds, ensuring that these do not affect the normal operation of fundraising projects [3][4]. Project Updates - The "Hutai Smart Cloud Valley Digital Technology Industrial Park Phase I" project is nearing completion, with general equipment installation expected to be completed by April 2025 [3][4]. - The company has decided to delay investments in customized equipment until formal contracts with clients are signed, to enhance fund usage efficiency [3][4]. Financial Adjustments - The company has replaced RMB 13.11 million of self-raised funds with raised funds for investment projects, which has been verified by an accounting firm [3][4]. - As of the report date, there are no violations in the management and usage of the raised funds, and all disclosures have been timely and accurate [3][4].