Group 1 - The company held its 28th meeting of the 9th Board of Directors on December 30, 2025, with all 9 directors present, complying with legal and regulatory requirements [2] - The Board approved the proposal to postpone certain fundraising investment projects, specifically extending the deadline for the "Tantalum-Niobium Pyrometallurgical Product Production Line Technical Transformation Project" to June 30, 2026 [3][14] - The company plans to continue using the raised funds for their intended purposes without changing the project implementation主体, methods, locations, or investment scale [11][34] Group 2 - The company raised a total of RMB 674.63 million through the issuance of 59,281,818 shares at a price of RMB 11.38 per share, with a net amount of RMB 670.20 million after deducting fees [6][30] - As of September 30, 2025, the company has utilized the raised funds for various projects, including the completion of the "Tantalum-Niobium Plate and Strip Production Line Technical Transformation Project" and the "Annual Production of 100 Niobium Superconducting Cavities Production Line Technical Transformation Project," with surplus funds of RMB 10.09 million being permanently allocated to working capital [8][32] Group 3 - The delay in the project is attributed to the late arrival of key imported equipment and the need for custom technical solutions, which have impacted the project's timeline [9][10] - The company has stated that the delay will not have a significant adverse effect on its normal operations and aligns with its long-term development strategy [11][34] - The company will closely monitor the progress of equipment procurement and overall construction to ensure timely completion of the projects [12][35] Group 4 - The Board has proposed to reappoint Tianzhi International Accounting Firm for the 2025 annual financial report and internal control audit, pending approval from the shareholders' meeting [18][28] - Tianzhi International has a strong track record and is qualified to provide the necessary audit services, with no significant issues in its recent performance [19][27]

Core Viewpoint - The company has announced a delay in the completion date of its "Tantalum-Niobium Pyrometallurgical Product Production Line Technology Renovation Project" from December 31, 2025, to June 30, 2026, due to delays in the arrival of key imported equipment and ongoing development of an automated measurement system [1] Group 1 - The total planned investment for the project is 357.38 million yuan, with 304.96 million yuan sourced from funds raised through a specific stock issuance [1] - The delay is attributed to a 10-month postponement in the arrival of a German 1600KW vertical electron beam melting furnace due to export license approval delays [1] - The project’s implementation subject, purpose, and investment scale remain unchanged, and the delay is not expected to adversely affect the company's normal operations or overall fundraising arrangements [1]

Core Viewpoint - Dongfang Tantalum Industry has successfully completed two of its three technology renovation projects funded by previous fundraising efforts, with the remaining project progressing as planned [2] Group 1: Project Completion Status - The tantalum and niobium strip product production line technology renovation project has reached the predetermined usable status and has been completed [2] - The annual production line for 100 niobium superconducting cavities has also achieved the predetermined usable status and has been completed [2] - The tantalum and niobium pyrometallurgical product production line technology renovation project is in the process of installing and debugging equipment according to the original plan [2]

Core Viewpoint - Ningxia Orient Tantalum Industry Co., Ltd. plans to issue A-shares to specific investors in 2025, aiming to raise up to RMB 120 million for various projects and to enhance its production capacity in the tantalum and niobium industry [16][25]. Group 1: Issuance Overview - The company intends to issue A-shares to no more than 35 specific investors, including China Nonferrous Metal Group and Zhongse (Ningxia) Oriental Group [20][21]. - The issuance will require approval from the State-owned Assets Supervision and Administration Commission, the shareholders' meeting, Shenzhen Stock Exchange, and the China Securities Regulatory Commission [30]. Group 2: Use of Proceeds - The total investment for the projects funded by the issuance is RMB 137.358 million, with RMB 120 million expected to be raised [25][26]. - The funds will be allocated to three main projects, including the construction of a hydrometallurgical digital factory and upgrades to existing production lines [18][19]. Group 3: Market Context - The tantalum and niobium industry is supported by national policies, with applications in electronics, aerospace, and defense sectors, indicating a stable market demand [16][18]. - The company aims to optimize its product and market structure to meet domestic and international demand, particularly for high-temperature alloy materials [19]. Group 4: Shareholder Relations - The issuance constitutes a related party transaction, as both China Nonferrous Metal Group and Zhongse (Ningxia) Oriental Group are significant shareholders [21][28]. - The shareholding structure will remain stable post-issuance, with no expected change in control [28][29]. Group 5: Financial Implications - The issuance may lead to short-term dilution of earnings per share, but the company has measures in place to mitigate this impact [10][11]. - The company has committed to a shareholder return plan for the next three years, which has been approved by the board [11].

Fundraising Overview - The company raised a total of RMB 674,627,088.84 through the issuance of 59,281,818 shares at a price of RMB 11.38 per share, with net proceeds amounting to RMB 670,204,385.22 after deducting underwriting fees and other expenses [1][2] - The funds were received on September 27, 2023, and verified by an accounting firm [1] Fund Usage and Balance - As of June 30, 2025, the company has utilized RMB 543,095,579.78 of the raised funds, leaving a balance of RMB 128,104,683.89 in the special account [2][3] - The difference of RMB 995,878.45 between the utilized amount and the net proceeds is attributed to interest income minus bank fees [2] Fund Management - The company has established a dedicated management system for the raised funds, adhering to relevant regulations and guidelines [2][3] - A special bank account has been opened solely for the storage and use of the raised funds, with a tripartite supervision agreement signed with banks and the sponsor [3] Project Investment Status - No changes have occurred in the investment projects funded by the raised capital during the reporting period [5] - The company has reported that the investment projects are progressing as planned, with specific projects such as the tantalum-niobium metallurgy product line and the niobium superconducting cavity production line undergoing technical upgrades [7][8] Financial Performance of Projects - As of June 30, 2025, the investment progress for the niobium superconducting cavity production line is at 65.01%, with reasons for delays including pre-investment using self-raised funds and cost management strategies [7][8] - The company has not encountered any significant changes in project feasibility or major issues regarding the use and disclosure of raised funds [8]

Core Viewpoint - The report details the fundraising activities and the utilization of proceeds by Ningxia Dongfang Tantalum Industry Co., Ltd, highlighting the total amount raised, the status of funds, and the actual investment projects undertaken with the raised capital [1][2]. Fundraising Details - The company raised a total of RMB 670,204,385.22 through the issuance of 59,281,818 shares at a price of RMB 11.38 per share, with the funds received on September 27, 2023 [1]. - As of March 31, 2025, the company had a remaining balance of RMB 149,907,012.98 from the raised funds, which constitutes 22.37% of the net amount raised [1][2]. Fund Utilization - The actual investment amount from the raised funds was RMB 521,263,566.21, resulting in a difference of RMB 14,894,080.00 compared to the committed investment amount of RMB 67,020,440.00 [1][2]. - The discrepancies in investment amounts are attributed to ongoing construction phases and cost optimization strategies [1][2]. Project Performance - The annual production line for 100 niobium superconducting cavities reached its intended operational status by December 2024, but as of March 31, 2025, it generated a cumulative benefit of RMB 707,300, which is below the promised benefit of RMB 1,381,800 by over 20% [2][3]. - The company has not experienced any changes in the investment projects funded by the previous fundraising efforts [1][2]. Comparison with Annual Reports - The actual use of funds aligns with the disclosures made in the company's periodic reports since 2023, confirming consistency in reporting [2].