Core Viewpoint - The report provides a detailed account of Wuhu Sanlian Forging Co., Ltd.'s previous fundraising activities, including the amount raised, its usage, and the management of the funds, confirming compliance with regulatory guidelines [1][2][3]. Fundraising Overview - The company raised a total of RMB 79,265.34 million by issuing 28.38 million shares at RMB 27.93 per share, with actual funds received amounting to RMB 67,211.81 million after deducting issuance costs of RMB 12,053.53 million [1][2]. - The funds were received in May 2023 and have been managed in a dedicated account [1][2]. Fund Usage and Balance - As of June 30, 2025, the net amount of raised funds was RMB 67,211.81 million, with a total of RMB 52,805.17 million utilized across various projects [3][4]. - The remaining balance of unused funds was RMB 15,192.17 million, which includes RMB 12,000.00 million in cash management and RMB 3,000.00 million temporarily supplementing working capital [6][7]. Fund Management - The company has established a fundraising management system to ensure the proper storage, approval, usage, and supervision of the raised funds [2][3]. - A tripartite supervision agreement was signed with several banks to ensure compliance with the management of the funds [2][3]. Project Investment and Changes - The funds were allocated to four main projects: precision forging production line renovation, high-performance forging production line capacity expansion, research and development center construction, and working capital supplementation [3][4]. - No changes were made to the investment projects as of June 30, 2025, and the actual investment matched the committed amounts [4][5]. Idle Funds and Cash Management - The company has utilized part of the idle funds for cash management, with a total of RMB 12,000.00 million invested in various financial products [5][6]. - An additional RMB 9,000.00 million was approved for temporary working capital supplementation, with RMB 3,000.00 million already utilized for this purpose [6][7]. Project Benefits and Performance - The precision forging production line renovation project is expected to generate significant profits, with projected net profits of RMB 4,472.82 million in the first year and RMB 8,661.41 million in the second year [8][9]. - The high-performance forging production line project also has substantial profit expectations, with a projected net profit of RMB 1,019.56 million in the first year [8][9].