Fundraising Overview - The company raised a total of RMB 625.665 million by issuing 79.5 million shares at a price of RMB 7.87 per share, with a net amount of RMB 561.123 million after deducting issuance costs of RMB 64.542 million [1] - As of June 30, 2025, the company has invested RMB 395.608 million in fundraising projects, with a remaining balance of RMB 22.296 million [1][2] Fund Management - The company has established a fundraising management system in compliance with relevant regulations to ensure proper management and usage of the raised funds [1] - A tripartite supervision agreement has been signed with the relevant financial institutions to ensure the safety and proper management of the funds [1] Fund Usage - There were no early investments or replacements for fundraising projects during the reporting period [2] - The company has not used idle funds for temporary working capital or to repay bank loans [2][3] - As of June 30, 2025, the company has utilized idle funds for cash management, with a balance of RMB 100 million allocated for this purpose [2][6] Project Status - The company has not changed the use of fundraising projects during the reporting period [3] - There are no issues regarding the usage and disclosure of fundraising funds, and the company has complied with all relevant laws and regulations [3]

Group 1 - The company has approved the use of up to 300 million yuan of idle raised funds for cash management, investing in safe and liquid financial products with a maturity of no more than 12 months [1][4] - A special settlement account for cash management of raised funds has been opened at Industrial Bank Co., Ltd. Jiangyin Branch by the subsidiary Su Li (Ningxia) New Materials Technology Co., Ltd. [2] - The cash management account will only be used for the settlement of idle raised funds and will not hold non-raised funds or be used for other purposes [2][3] Group 2 - The company will maintain close contact with relevant institutions during the investment period to monitor the operation of the funds and strengthen risk control [3] - The establishment of the cash management account and the use of idle funds comply with regulatory requirements and do not change the purpose of the raised funds, ensuring the normal development of the company's main business [4] - This initiative aims to improve the efficiency of fund utilization and generate certain investment returns, benefiting the company and all shareholders [4]

Group 1 - The company announced the conversion situation of its convertible bonds "Shenghang Convertible Bonds" for the first quarter of 2025, indicating a reduction of 281 bonds and a conversion of 1,800 shares [8][9] - As of March 31, 2025, the remaining amount of "Shenghang Convertible Bonds" is 4,540,733 bonds, with a total face value of RMB 454,073,300 [8][9] - The initial conversion price of "Shenghang Convertible Bonds" was set at RMB 19.15 per share, which was later adjusted to RMB 15.60 per share after a downward revision approved by the shareholders [4][5][8] Group 2 - The company issued 7,400,000 convertible bonds on December 6, 2023, with a total fundraising amount of RMB 74 million, and these bonds were listed on the Shenzhen Stock Exchange on December 28, 2023 [2][3] - The conversion period for the "Shenghang Convertible Bonds" is from June 12, 2024, to December 5, 2029 [3] - The company plans to use temporarily idle raised funds and self-owned funds for cash management, with a total amount not exceeding RMB 14.2 million [14][19]