Summary of Key Points Core Viewpoint - The company, Shandong Nanshan Zhishang Technology Co., Ltd., has decided to postpone the completion date of its fundraising project, specifically the "Annual Production of 80,000 Tons of High-Performance Differentiated Nylon Filament Project," to December 31, 2025, while maintaining the project's investment scope and purpose unchanged [4][6]. Group 1: Fundraising Overview - The company successfully issued 71,428,571 shares at a price of 14.00 RMB per share, raising a total of approximately 1 billion RMB, with a net amount of about 988 million RMB after deducting issuance costs [2][3]. - The funds raised have been deposited into a special account, and a tripartite supervision agreement has been signed with the sponsor and the bank [2]. Group 2: Fund Usage Status - As of June 30, 2025, the company has made progress in utilizing the raised funds for the project, although specific amounts and percentages are not detailed in the provided text [3][4]. Group 3: Reasons for Postponement - The postponement is attributed to several factors: 1. The funds were only available in mid-May 2025, affecting the payment and construction progress [5][6]. 2. The new product requires customer validation, delaying equipment acceptance and full production [6]. 3. The reliance on imported equipment has complicated on-site problem resolution [6]. 4. Structural changes in civil engineering have extended the construction period [6]. Group 4: Impact of Postponement - The postponement is a cautious decision that does not alter the project's implementation subject, purpose, or investment scale, and it is not expected to significantly impact the company's current operations [6][7]. Group 5: Review Procedures - The company's board and supervisory committee have reviewed and approved the postponement, confirming that it complies with relevant regulations and does not harm shareholder interests [7][8].