Fundraising Overview - The company raised a total of RMB 439.96 million through the issuance of 32.35 million shares at a price of RMB 13.60 per share [1] - As of June 30, 2025, the net amount of raised funds was RMB 392.32 million after deducting issuance costs [1] Fund Utilization and Balance - By June 30, 2025, the company had utilized RMB 25.90 million directly for fundraising projects, leaving a balance of RMB 282.57 million [1] - The company earned a total of RMB 9.49 million from financial products, with RMB 95,157.53 as the current period's income [1] Fund Management - The company established a dedicated account for managing the raised funds, ensuring strict compliance with regulations and investor protection [1] - As of June 30, 2025, the total balance in the dedicated accounts was RMB 8.09 million [1] Cash Management - The company approved the use of up to RMB 40.10 million of idle funds for cash management, investing in safe and liquid financial products [2][3] - A separate approval allowed the use of up to RMB 17 million for similar cash management purposes [2][3] Use of Excess Funds - The company did not use excess funds for permanent working capital or to repay bank loans during the reporting period [2][3] - All remaining excess funds and their derived interests, totaling RMB 15.95 million, were allocated to the construction of the second phase of the R&D center [2][3] Project Status - There were no changes in the use of fundraising projects during the reporting period, and no prior investments were replaced [2][3] - The company reported that all projects were on track with no significant changes in feasibility [3]