Core Points - The company held its 13th meeting of the 10th Board of Directors on September 29, 2025, where several resolutions were passed, including a capital increase for its subsidiary and amendments to corporate governance documents [1][2][4][28]. Group 1: Capital Increase for Subsidiary - The company approved a capital increase of $600,000 for its subsidiary, Shantou Ultrasonic Printed Circuit Board Company, with the company contributing $450,000 and the foreign partner contributing $150,000, raising the subsidiary's registered capital to $2,850,000 [28][29]. - The subsidiary specializes in the production of double-sided and multi-layer printed circuit boards, and the capital increase aims to enhance competitiveness by updating equipment and attracting talent [32][30]. Group 2: Amendments to Corporate Governance - The company proposed amendments to its Articles of Association, transferring the powers of the Supervisory Board to the Audit Committee of the Board, which will lead to the abolition of related systems [4][24]. - The company also plans to revise the rules governing shareholder meetings and board meetings, as well as establish new management measures for external directors and the remuneration and assessment system for directors and senior executives [7][10][17][20]. Group 3: Upcoming Shareholder Meeting - The company announced that the 2025 First Extraordinary General Meeting of Shareholders will be held on October 16, 2025, with provisions for both on-site and online voting [36][38]. - The meeting will address the resolutions passed by the Board, including the capital increase and amendments to governance documents, which require approval from shareholders [39][40].

Fundraising Overview - The total amount raised by the company through its initial public offering (IPO) was RMB 651,376,130, with 35,731,000 shares issued at a price of RMB 18.23 per share [1] - As of June 30, 2025, the balance of the raised funds was RMB 8,555,329.42, with no funds allocated for cash management [1][2] Fund Management - The company has established a fundraising management system to ensure compliance with relevant laws and regulations, including the use of special accounts for fund storage and usage [1] - A tripartite supervision agreement has been signed with the banks holding the special accounts to ensure proper management of the raised funds [1] Actual Use of Funds - The company did not use any idle funds for temporary working capital or cash management during the reporting period [2][3] - The funds were primarily used for specific projects, with a total of RMB 521,826,445.86 invested in previous years and RMB 14,987,426.46 in the current reporting period [1] Project Completion and Adjustments - The projects funded by the raised capital, including the "Annual Production of High-Precision Multi-Layer Boards and High-Density Interconnection Laminates" and the "R&D Center Upgrade Project," have been completed and reached the expected usable state [3][4] - The total investment for the high-precision multi-layer board project was RMB 505,236,338.72, while the R&D center upgrade project totaled RMB 38,018,773.96 [4] Compliance and Reporting - The company has adhered to all relevant regulations regarding the use and management of raised funds, with no violations reported [2][3] - The company has conducted board meetings to approve the use of funds and any necessary adjustments to project funding as required [2][3]

Core Viewpoint - The report details the usage of previously raised funds by Changzhou Aohong Electronics Co., Ltd., highlighting the total amount raised, actual investment projects, and changes in fund usage, as well as the economic benefits derived from these investments [1][2][3]. Fundraising Situation - The company raised a total of 651,376,130.00 RMB by issuing 35,731,000 shares at a price of 18.23 RMB per share on October 9, 2020 [1]. - As of June 30, 2025, the balance of the raised funds in designated bank accounts was 591,782,710.34 RMB [1]. Actual Use of Funds - The total actual investment amount from the raised funds was 617,704,254.05 RMB, with a change in usage amounting to 80,890,381.73 RMB, representing 13.67% of the total raised funds [2][3]. - The company decided to permanently supplement its working capital with surplus funds from the initial public offering, totaling 505,236,338.72 RMB [1]. Changes in Investment Projects - The company approved the conclusion of the initial public offering investment projects and the transfer of surplus funds to its own capital account during meetings held in March and April 2023 [1]. - The actual investment in the "Annual Production of High-Precision Multi-Layer Boards and High-Density Interconnected Laminates" project was 498,672,078.81 RMB, which was lower than the committed amount due to pending contract payments [1][2]. Economic Benefits - The project "Annual Production of High-Precision Multi-Layer Boards and High-Density Interconnected Laminates" is still in the ramp-up phase and has not yet reached its expected production capacity, thus not generating the anticipated economic benefits [2][3]. - The internal rate of return for the project was reported at 25.80% for the year 2022 [3]. Cash Management of Idle Funds - The company has utilized a total of 19,500,000 RMB of idle raised funds temporarily to supplement working capital, which has since been returned to the designated account [2]. - The company has also approved the use of idle funds for cash management, allowing investments in safe and liquid financial products [2].

Group 1 - The core stock price of Aoshikang on August 18 closed at 38.81 yuan, down 0.81 yuan, representing a decline of 2.04% [1] - The trading volume on that day was 87,630 lots, with a transaction amount of 340 million yuan [1] - Aoshikang's main business includes the research, production, and sales of high-density interconnect multilayer boards and flexible multilayer boards, which are widely used in consumer electronics, communication equipment, and automotive electronics [1] Group 2 - On the evening of August 18, Aoshikang announced that the second extraordinary general meeting of shareholders in 2025 approved several proposals, including the proposal regarding the conditions for issuing convertible bonds to unspecified objects [1] - The announcement also indicated that the company and its subsidiaries do not provide guarantees to entities outside the consolidated financial statements, nor do they have overdue guarantees or guarantees involving litigation [1] Group 3 - On August 18, the net outflow of main funds was 5.3556 million yuan, accounting for 0.05% of the circulating market value [1] - Over the past five days, the net inflow of main funds was 86.1569 million yuan, accounting for 0.74% of the circulating market value [1]