Core Viewpoint - The Shanghai Stock Exchange has approved Suzhou Tianzhun Technology Co., Ltd.'s issuance of convertible bonds, confirming that it meets the necessary issuance and listing conditions as well as information disclosure requirements [1] Group 1: Issuance Details - The total amount of the proposed convertible bonds to be issued is up to RMB 872 million, which will be used for various R&D and industrialization projects [3] - The projects include: - Industrial vision equipment and precision measurement instruments with a total investment of RMB 401.54 million, of which RMB 400 million will be funded by the raised capital - Semiconductor measurement equipment with a total investment of RMB 308.64 million, with RMB 278 million from the raised capital - Intelligent driving and embodied intelligent controllers with a total investment of RMB 201.10 million, with RMB 194 million from the raised capital [4] - The bonds will be issued at a face value of RMB 100 each and will have a term of 6 years from the date of issuance [4] Group 2: Market and Financial Considerations - The company was questioned about the market competition landscape and the rationality of capacity planning and benefit estimation for the fundraising projects, emphasizing the need for objective evidence regarding strong downstream customer demand and sufficient order reserves [2] - There was also an inquiry regarding the significant discrepancy between net cash flow from operating activities and net profit during the reporting period, requiring clarification on the rationale behind this difference [2]