Group 1 - The company announced that it will hold the 16th meeting of the second board of directors and the 14th meeting of the second supervisory board on August 26, 2025 [1] - The company approved a proposal to change the use of part of the raised funds and to postpone the investment project related to "IoT wireless module and smart home product design and manufacturing" until October 31, 2026 [1]

Core Viewpoint - The company has completed the settlement of certain fundraising projects and decided to permanently supplement its working capital with the surplus funds raised from its initial public offering [1][4][6]. Fundraising Basic Situation - The company was approved by the China Securities Regulatory Commission to publicly issue 24,000,000 shares at a price of RMB 74,690.79 million, with the net proceeds amounting to RMB 74,690.79 million [1][2]. Fundraising Investment Project Overview - The total investment amount for the fundraising projects was RMB 74,690.79 million, with the company planning to allocate these funds to various projects, including the design and manufacturing of IoT wireless modules and smart home products [2][3]. Project Completion and Surplus Funds - The projects "Expansion of Product Line" and "Supplementing Working Capital" have reached their expected usable status, leading to the decision to conclude these projects and utilize the surplus funds for permanent working capital [4][6]. - As of July 31, 2025, the cumulative investment in the "Expansion of Product Line" project was RMB 46,924.20 million, while the "Supplementing Working Capital" project had a cumulative investment of RMB 9,767.22 million [5][6]. Reasons for Surplus Funds - The company adhered to regulations regarding the management of raised funds, using them efficiently and effectively, which resulted in savings and surplus funds [6][7]. Impact of Fund Settlement - The decision to conclude certain fundraising projects and permanently supplement working capital is seen as a prudent move that will lower financial costs and align with the company's long-term interests [6][7]. Approval Procedures - The board of directors and the supervisory board approved the settlement of the fundraising projects and the use of surplus funds for working capital, ensuring compliance with relevant regulations [7][9].