Core Viewpoint - Nanjing Gaohua Technology Co., Ltd. has announced a postponement of the completion date for its fundraising project, "Gaohua Production Testing Center Construction Project," to December 31, 2026, without changing the project implementation entity, fundraising purpose, or investment scale [1][5]. Fundraising Basic Information - The company raised a total of RMB 1,268.90 million through its initial public offering (IPO) by issuing 33.2 million shares at a price of RMB 38.22 per share, with a net amount of RMB 1,165.53 million after deducting issuance costs [1][2]. Fundraising Usage Status - As of October 31, 2025, the company has provided an update on the usage of the funds raised from the IPO [2]. Reasons for Project Postponement - The postponement is due to several factors: 1. The phase completion acceptance process took longer than expected, with the main structure completed in July 2025, followed by various regulatory inspections [2][3]. 2. Subsequent construction work, including fine decoration and equipment installation, requires further development, with a projected timeline from December 2025 to December 2026 [3]. 3. Compliance procedures are necessary to ensure the project's long-term safety and stability, adhering to industry regulations and internal quality control standards [4]. Impact of Postponement on the Company - The decision to postpone the project is based on the actual progress and is deemed prudent, with no changes to the project implementation entity, fundraising purpose, or investment scale, ensuring no adverse effects on the company's operations [4][5]. Review Procedures and Opinions - The board of directors approved the postponement during a meeting on November 28, 2025, confirming that the decision aligns with the current project progress and adheres to regulatory requirements [5][6].