Fundraising Overview - The company raised a total of RMB 70,999,998 from the issuance of 16,888,677 shares at a price of RMB 42.04 per share, with a net amount of RMB 69,705,410 after deducting issuance costs [1] - As of June 30, 2025, the company has invested RMB 52,924,150 of the raised funds, with a remaining balance of RMB 21,349,360 [1][7] Fund Management - The company has established special accounts for the management of raised funds at various banks and signed a tripartite supervision agreement to ensure compliance with regulations [3][5] - The management system for the raised funds was approved by the board and modified by the shareholders' meeting [2] Fund Utilization - The company has utilized RMB 12,121,040 from the raised funds for specific projects, with a total investment of RMB 997,870 during the reporting period [2][6] - The company plans to extend the completion date of the fundraising projects to March 31, 2026, due to external factors affecting project progress [6][8] Financial Performance - The company reported that the cumulative capacity utilization rate of the fundraising projects was below expectations, primarily due to lower-than-expected orders from downstream customers [6] - The company has received small batch orders from leading customers in the optical communication and data center sectors, indicating progress in customer development [6] Cash Management - The company has temporarily used RMB 15,000,000 of idle raised funds to supplement working capital, with RMB 7,300,000 already returned [7][8] - As of June 30, 2025, the company has structured deposits totaling RMB 16,700,000, ensuring high safety and liquidity [7][9]