Group 1 - The company has received approval from the China Securities Regulatory Commission to issue 597,938,144 shares at a price of 4.85 RMB per share, raising a total of approximately 2.90 billion RMB, with a net amount of about 2.89 billion RMB after deducting issuance costs [1][2] - The funds have been transferred to a designated account on October 17, 2025, and the accounting firm has verified the funds' arrival [1][2] Group 2 - The company has established a special account for the management and use of the raised funds, in compliance with relevant regulations and internal management policies [2][3] - A tripartite regulatory agreement has been signed between the company, China Bank Hubei Branch, and the sponsor, CITIC Securities, to ensure proper management of the funds [2][3] - The special account is exclusively for the storage and use of funds related to the Luotian Pumped Storage Power Station project, prohibiting any non-project-related funds [3][8] Group 3 - The tripartite agreement outlines that the company can invest temporarily idle funds in cash management products, subject to the sponsor's approval [3][4] - The company must ensure that any cash management products do not affect the normal investment plans of the raised funds [4][5] - Monthly account statements must be provided by the bank to the sponsor, ensuring transparency in fund management [6][11] Group 4 - A quadripartite regulatory agreement has also been established for the subsidiary involved in the project, ensuring similar management and oversight of the funds [8][9] - The subsidiary's special account is similarly restricted to project-related funds only, with oversight from the same banking and sponsor entities [8][9] - The agreements include provisions for regular audits and the ability for the sponsor to change representatives as needed [10][12]

Core Points - The company announced the issuance of 597,938,144 shares to specific investors, raising a total of 2.899 billion yuan [1] - After deducting issuance costs, the actual net funds raised amount to 2.894 billion yuan, which has been transferred to a designated account on October 17, 2025 [1] - To ensure proper management of the raised funds, the company has established a special account and signed a tripartite and quadripartite supervision agreement with Bank of China Hubei Branch and the sponsor CITIC Securities [1] - The agreement outlines detailed regulations regarding the use of the special account, cash management, and the responsibilities of all parties involved, aimed at ensuring the funds are used for the Luotian Pingtan Yuan Pumped Storage Power Station project [1]