Group 1 - The company held its sixth supervisory board meeting on July 30, 2025, where all three supervisors attended, and the meeting was deemed legal and effective [1][2][3] - The supervisory board approved the adjustment of the investment amount and implementation progress of the fundraising project, allowing the remaining funds to continue being managed in a dedicated account [2][19][20] - The company plans to adjust the investment amount for the "Weidi Cloud Bus Internet of Things Service Platform Project" from 200 million RMB to 64.5285 million RMB, with a completion deadline extended to August 2028 [9][11][17] Group 2 - The company will use up to 150 million RMB of idle funds from convertible bonds for cash management, ensuring that the main business operations remain unaffected [4][41][59] - The cash management will involve low-risk financial products such as structured deposits and time deposits, with a rolling usage period of 12 months [47][51][58] - The company has established a dedicated account for managing the raised funds, ensuring compliance with regulatory requirements [12][48][60]

Core Viewpoint - The company is proposing to adjust the investment amount and implementation progress of its fundraising projects, while continuing to manage the remaining funds in a dedicated account, in response to market changes and customer feedback [1][8]. Fundraising Overview - The company raised a total of RMB 200 million by issuing 2 million convertible bonds in July 2018, with a net amount of RMB 192.4 million after deducting fees [1][2]. - As of July 21, 2025, the balance in the fundraising account is RMB 181.72 million, with accumulated interest and investment income of RMB 24.03 million [2][3]. Investment Progress - The company has completed several modules of the "Weidi Cloud Bus Internet of Things Service Platform Project," including the vehicle-mounted intelligent terminal and the Weidi Cloud Bus service platform [5][6]. - Due to changes in customer demand, the company is adjusting its investment focus from private cloud solutions and public transport data platforms to smart cockpit modules and vehicle central control modules [5][6]. Proposed Adjustments - The proposed adjustment reduces the investment amount for the "Weidi Cloud Bus Internet of Things Service Platform Project" from RMB 200 million to RMB 64.53 million, with RMB 34.53 million already invested [3][8]. - The completion date for the project is proposed to be extended to August 2028 to better align with market needs and ensure project effectiveness [8]. Impact on the Company - The adjustments are deemed feasible and align with national industrial policies and market trends, which will help the company strengthen its industry position and improve profitability [8]. - The decision is based on a comprehensive assessment of the current industry situation and the company's operational needs, ensuring that shareholder interests, especially those of minority shareholders, are protected [8].

Core Viewpoint - The company has adjusted the investment amount and implementation schedule for the "Weidi Cloud Bus Internet of Vehicles Service Platform Project," reducing the investment from 200 million yuan to 64.5285 million yuan and extending the completion date to August 2028 [1][2][10]. Summary by Sections Fundraising Overview - The company issued 2 million convertible bonds at a face value of 100 yuan each in July 2018, raising a total of 200 million yuan, with a net amount of 193.5 million yuan after deducting fees [2][3]. - The remaining balance in the fundraising account as of July 21, 2025, is 181.7188 million yuan [5]. Investment Progress - As of July 21, 2025, the company has invested 34.5285 million yuan in the project, with a planned further investment of 30 million yuan [1][6]. - The project includes the construction of vehicle-mounted intelligent terminals and the Weidi Cloud Bus service platform, among others [8]. Adjustments to Investment Amount and Schedule - The investment amount for the "Weidi Cloud Bus Internet of Vehicles Service Platform Project" has been adjusted to 64.5285 million yuan due to changes in market demand and customer feedback [6][9]. - The completion date for the project has been postponed to August 2028 to better align with market needs and technological developments [10][11]. Future Development Plans - The company plans to focus on developing new products that meet mandatory national standards, including a vehicle central control module and an intelligent cockpit module [7][9]. - The company aims to conduct feasibility analyses for new investment projects to ensure they have good market prospects and profitability [6][10]. Decision-Making Process - The adjustments were approved by the company's board of directors and require shareholder meeting approval [10][11]. - The supervisory board supports the adjustments, stating they align with the company's operational needs and do not harm shareholder interests [11][12].

Core Viewpoint - The company is adjusting the investment amount and implementation progress of its fundraising projects, specifically reducing the investment in the "Weidi Cloud Bus Internet of Things Service Platform Project" from 200 million RMB to 64.5285 million RMB, while continuing to manage the remaining funds in a dedicated account [6][9][11] Fundraising Basic Situation - In July 2018, the company issued 2 million convertible bonds with a total fundraising amount of 200 million RMB, netting 192.4034 million RMB after deducting fees [2][3] - As of July 21, 2025, the balance in the fundraising account is 181.7188 million RMB [4] Actual Investment Situation - The company has received a total of 24.0271 million RMB in interest and investment income from the fundraising account since 2018 [4] - The company has completed several modules of the "Weidi Cloud Bus Internet of Things Service Platform Project" but is adjusting the project due to changes in customer demand [7][8] Adjustment of Investment Amount and Delay - The investment amount for the "Weidi Cloud Bus Internet of Things Service Platform Project" is adjusted to 64.5285 million RMB, with 34.5285 million RMB already invested and an additional 30 million RMB planned for future investment [6][9] - The completion date for the project has been postponed to August 2028 to better align with market demands [8][9] Impact on the Company - The adjustments are deemed necessary based on current industry conditions and the company's operational needs, ensuring that shareholder interests, especially those of minority shareholders, are not compromised [9][10] - The adjustments are expected to enhance the company's market position and profitability [9][11] Review and Decision-Making Process - The board of directors approved the adjustments on July 30, 2025, and the matter will be submitted for shareholder meeting approval [10][11] - The supervisory board supports the adjustments, affirming compliance with relevant regulations and the company's articles of association [10][11]