Summary of Key Points Core Viewpoint The company, Huqin Technology Co., Ltd., has completed certain fundraising projects and plans to permanently supplement its working capital with the remaining funds from these projects, following a thorough review by its sponsor, China International Capital Corporation (CICC) [1][9]. Fundraising Basic Information - The company raised a total of RMB 585,195.95 million through its initial public offering, with a net amount of RMB 573,068.36 million after deducting issuance costs, including an oversubscription amount of RMB 23,068.36 million [1][2]. - The funds have been deposited in a dedicated account, and a tripartite/four-party supervision agreement has been signed with the sponsor and the bank [2]. Investment Project Status - The total investment amount for the projects is RMB 669,690.48 million, with RMB 573,068.36 million available for use [3]. - As of May 2025, the Shanghai Emerging Technology R&D Center project and the Wuxi R&D Center Phase II project have reached the predetermined usable status, leading to their conclusion [3][4]. Remaining Funds and Their Use - The remaining funds amount to RMB 34,974.92 million, which will be used to permanently supplement the company's working capital [3][5]. - The company aims to improve the efficiency of fund usage and reduce financial costs through this allocation [6][7]. Reasons for Fund Surplus - The surplus is attributed to effective cost control and resource optimization during project implementation, which did not affect the completion of the fundraising projects [5][6]. - Strategic adjustments in the R&D team and dynamic optimization of construction plans contributed to reduced expenditures [6]. Approval Process and Opinions - The proposal to conclude the fundraising projects and use the surplus funds requires approval from the shareholders' meeting [8]. - The Strategic and Sustainable Development Committee and the Supervisory Board have both expressed support for the proposal, indicating it does not harm the interests of the company or its shareholders [8][9]. Sponsor's Verification Opinion - The sponsor, CICC, has verified that the decision to conclude the projects and use the surplus funds is prudent and aligns with regulatory requirements, ensuring no adverse impact on the company's operations [9].