Core Points - The board of directors of Yifeng Pharmacy held its 19th meeting of the 5th session on July 30, 2025, with all 9 directors present, and the meeting was conducted in accordance with legal and regulatory requirements [1][4] - The board approved several key proposals, including the cancellation of the supervisory board and amendments to the company's articles of association, which will be submitted for shareholder approval [2][5] - The board also approved the extension of the completion date for the "Yifeng Digital Platform Upgrade Project" from July 31, 2025, to December 31, 2025, without changing the project implementation subject, method, total amount of raised funds, or purpose [3][4] - A proposal was made to use up to 7.05 million yuan of the company's own funds to cover certain costs related to the digital platform upgrade project, with plans to replace these funds with equivalent amounts from the raised funds [3][4] - The company will hold its second extraordinary general meeting of 2025 on August 25, 2025, at 14:30, in Changsha, Hunan Province, with the board authorized to handle related matters [5]

Group 1 - The core viewpoint of the article is that Yifeng Pharmacy has decided to extend the completion date of its digitalization project from July 31, 2025, to December 31, 2025, due to the complexity and interconnectivity of the systems involved [5][6]. - The total investment for the digitalization project is 80.642 million yuan, with the company planning to use the same amount from the raised funds [3]. - As of June 30, 2025, the company has invested 73.621 million yuan in the digitalization project, achieving a progress rate of 91.29% [3]. Group 2 - The delay in the project is attributed to the challenges in integrating various systems such as product, logistics, finance, and human resources, which has led to a postponement in platform integration and promotion [4]. - The company has confirmed that the extension will not change the project implementation entity, method, total investment amount, or usage of the raised funds, ensuring that it aligns with the long-term development plan and interests of shareholders [5][6]. - The board of directors and the supervisory board have approved the extension, affirming that the decision complies with relevant laws and regulations [6].

Core Viewpoint - The company intends to use its own funds to pay for part of the investment project and subsequently replace it with raised funds, which is in compliance with regulatory requirements and aims to enhance the efficiency of fund utilization [1][5]. Fundraising Basic Situation - The company has received approval from the China Securities Regulatory Commission to issue convertible bonds, with net fundraising amounting to approximately 253.43 million yuan after deducting related expenses [1][2]. Investment Project Basic Situation - As of June 30, 2025, the total investment for the projects, including the Jiangsu Phase II, Hubei Pharmaceutical Sorting and Processing Center, and Hebei Pharmaceutical Warehouse, amounts to 253.43 million yuan, with 179.74 million yuan allocated from the raised funds [2]. Reasons for Using Own Funds - The company faces challenges in using raised funds directly for certain expenses, such as employee salaries and social insurance, which must be paid through the basic deposit account. Therefore, it plans to use up to 7.05 million yuan of its own funds for these payments and later replace them with raised funds [3][4]. Impact on the Company - The use of self-funds for project payments and subsequent replacement with raised funds is expected to improve fund utilization efficiency and ensure the smooth progress of investment projects without affecting the normal implementation of the projects [4][5]. Review Procedures and Opinions - The company's board and supervisory committee have approved the proposal to use self-funds for the investment project, confirming that this action does not harm the interests of the company or its shareholders and complies with relevant regulations [5].