Core Viewpoint - Aerospace Hongyu (688523.SH) announced a delay in the completion of its dual-use communication, measurement, and testing equipment industrialization project, extending the deadline from September 30, 2025, to June 30, 2026 [1] Summary by Relevant Sections - Project Status - As of August 31, 2025, the project has utilized 303.55 million yuan of raised funds, accounting for 60.71% of the planned total investment [1] - Reasons for Delay - The delay is primarily due to the slow progress in obtaining relevant permits and construction work, as well as the long procurement cycle for high-end research and testing equipment, which involves overseas imports [1] - Transportation and debugging processes have also been affected, contributing to the overall delay [1]

Core Viewpoint - The company has decided to postpone the completion date of its fundraising project "Military-Civilian Dual-Use Communication, Measurement and Control, and Testing Equipment Industrialization Project" from September 30, 2025, to June 30, 2026, due to various factors affecting construction progress and equipment procurement [1][6]. Fundraising Overview - The company successfully raised a total of RMB 893.64 million through its initial public offering, with a net amount of RMB 823.11 million after deducting issuance costs [1]. - The company has established a dedicated account for the management of the raised funds, in accordance with regulatory requirements [2]. Fundraising Utilization Status - As of August 31, 2025, the company has been actively managing the use of the raised funds, although specific utilization details were not disclosed in the announcement [3]. Reasons for Postponement - The delay in the project is attributed to various factors, including the processing of relevant permits, construction progress, and the procurement of high-end research and testing equipment, which involves longer import cycles [4]. - The company has also adjusted the internal investment structure of the project to better align with future business development and optimize production capacity [4]. Impact of Postponement - The postponement is a cautious decision based on the actual implementation status of the project and does not alter the investment content, total investment amount, or project implementation entity [5]. - The company asserts that the delay will not adversely affect its normal operations or shareholder interests, aligning with long-term development plans [5][7]. Review Process - The board of directors approved the postponement during a meeting held on September 25, 2025, and the matter did not require shareholder approval [6]. Sponsor's Opinion - The sponsor has expressed no objections to the postponement, confirming that it complies with relevant regulations and will not harm shareholder interests [7][8].

Group 1 - The company announced a postponement of the investment project "Military-Civilian Dual-Use Communication, Measurement and Control, and Testing Equipment Industrialization Project" [1] - The new expected completion date for the project is now June 30, 2026, extended from the previous date of September 30, 2025 [1] - The decision was made during the fourth board meeting and does not require approval from the shareholders' meeting [1]