Summary of Key Points Core Viewpoint The report provides a detailed account of the fundraising activities, management, and usage of the raised funds by Guangzhou Tongda Automotive Electric Co., Ltd. for the first half of 2025, ensuring compliance with regulatory requirements and highlighting the financial status of the company. Fundraising Overview - The company raised a total of RMB 818,054,105.69 after deducting various fees and taxes from the gross amount raised through the issuance of 87,921,800 shares at RMB 10.07 per share [1][2]. - The net amount raised was verified by Tianjian Accounting Firm, which issued a verification report [1]. Fund Usage and Balance - As of June 30, 2025, the net amount raised was RMB 81,805.41 million, with RMB 71,744.27 million allocated to projects and RMB 13,640.69 million set aside for permanent working capital [1][2]. - The company reported a remaining balance of RMB 90.84 million in the fundraising account, which has not been transferred for other uses [2][3]. Fund Management - The company has established a fundraising management system in compliance with relevant laws and regulations, ensuring that funds are stored in dedicated bank accounts [1][2]. - As of June 30, 2025, the company maintained four dedicated fundraising accounts with a total balance of RMB 908,390.06 [1][2]. Investment and Financial Management - The company has utilized temporarily idle funds for cash management, generating approximately RMB 0.04 million in interest income from fixed deposits [2][3]. - The company has not encountered any abnormal situations regarding the investment projects funded by the raised capital [2][3]. Project Status - There have been no changes to the fundraising investment projects, and the company has not reported any issues with the effectiveness of the projects funded [2][3]. - The company has indicated that the benefits of certain projects, such as the R&D and product testing center, cannot be individually quantified but contribute to new product development and financial risk mitigation [2][3].