Core Viewpoint - The company, Nanfeng Co., Ltd., is taking measures to improve its financial situation by utilizing its reserve funds to cover losses and is planning to engage in low-risk financial investments with its own funds in 2026 [2][3][4]. Group 1: Stock Performance - As of December 31, 2025, Nanfeng Co., Ltd. closed at 12.25 yuan, down 2.47% from the previous week [1]. - The stock reached a high of 12.68 yuan and a low of 11.47 yuan during the trading session on December 31 [1]. - The company's current total market capitalization is 5.88 billion yuan, ranking 75th out of 177 in the specialized equipment sector and 2976th out of 5181 in the A-share market [1]. Group 2: Board Meeting Resolutions - On December 30, 2025, the company held its 12th meeting of the 6th Board of Directors, where it approved several key resolutions, including the use of reserve funds for covering losses and the proposal for the first extraordinary shareholders' meeting of 2026 [2][3]. - The company plans to hold the first extraordinary shareholders' meeting on January 16, 2026, to discuss the use of reserve funds to cover losses, with a record date of January 12, 2026 [2]. Group 3: Financial Strategies - The company has approved a plan to use up to 500 million yuan of its own funds for entrusted financial management in 2026, focusing on low-risk financial products [2][4]. - The funds for financial management will come from the company's own resources and will not involve raised funds or bank credit [2]. - The company aims to improve its financial condition and enhance investor returns through the use of reserve funds amounting to 927.75 million yuan to cover accumulated losses [3][4].

Core Viewpoint - The company plans to utilize up to 200 million yuan of idle raised funds for cash management to enhance fund efficiency and provide better returns for shareholders [1][6]. Fundraising Overview - The company raised a total of 421,694,471.25 yuan through a specific issuance of A-shares in 2024, with a net amount of 415,135,944.34 yuan after deducting issuance costs. The funds were fully received by September 29, 2025, and are intended to supplement the company's working capital [2]. Cash Management Plan - The company intends to use a maximum of 200 million yuan of idle raised funds for cash management, which can be rolled over within 12 months from the date of board approval. The funds will be returned to the designated account upon maturity, ensuring no impact on the company's normal funding needs [3]. Investment Product Types - The cash management will be strictly limited to capital-protected products, including but not limited to: - Fixed deposits, notice deposits, and time deposits - Structured deposits - Bank wealth management products - Income certificates from financial institutions - The investment products will have a maturity of no more than 12 months and can be transferred or withdrawn early. The company specifies that these products cannot be used for collateral, and the special settlement account must not hold non-raised funds or be used for other purposes [4]. Decision-Making and Execution Mechanism - The company authorizes the legal representative or their designee to exercise investment decision-making authority within the limits and validity period, responsible for selecting issuers, determining investment amounts and terms, and signing relevant agreements, with implementation handled by the finance department [5]. Risk Control and Compliance Assurance - The company emphasizes that, despite the rigorous selection of investment products, market volatility risks due to macroeconomic factors cannot be ruled out. To mitigate risks, the company has established multiple control measures: 1. The finance department will monitor product allocation and project progress in real-time, taking protective measures when risks are identified 2. The audit department will oversee the use and custody of funds, with independent directors able to hire professional institutions for auditing 3. An investment ledger and accounting system will be established to ensure transparent and standardized fund management 4. The company will strictly fulfill information disclosure obligations as required by the Shenzhen Stock Exchange [6]. Market Impact and Sponsor Opinion - The company states that this cash management will not affect the development of its main business or the planned use of raised funds, and there is no disguised change in the use of raised funds. By increasing the returns on idle funds, it will further enhance the company's profits, aligning with the interests of all shareholders. The sponsor, Changjiang Securities, has confirmed that the matter has undergone necessary approval procedures and complies with relevant regulations, expressing no objections [6].