Core Viewpoint - The company has decided to postpone the expected completion dates for certain fundraising projects due to delays in the progress of fundraising and construction, while maintaining the original investment purposes and scales [3][4][11]. Fundraising Basic Situation - The company raised a total of approximately RMB 739.99 million through a non-public stock issuance, with a net amount of approximately RMB 730.15 million after deducting issuance costs [1]. Fundraising Usage Status - As of June 30, 2025, the total investment for the AI Video Big Data Platform project is approximately RMB 97.82 million, with RMB 73.02 million used and RMB 28.11 million remaining, indicating a usage rate of 61.50% [2]. Postponement Details - The expected completion dates for the "High-tech Video Service Platform Project" and "AI Video Big Data Platform Project" have been postponed from September 2025 to September 2027 due to delays in construction and market conditions [3][4]. Reasons for Postponement - The delays are attributed to cautious management regarding the purchase of R&D facilities in Shanghai and the need for resource integration with a newly established subsidiary in Hefei. Additionally, supply chain issues and evolving market demands have impacted the procurement of high-performance GPU servers necessary for the projects [3][4]. Measures to Ensure Project Completion - The company plans to closely monitor the progress of the fundraising projects, optimize resource allocation, strengthen coordination with suppliers, and enhance supervision and management of the projects to ensure effective use of funds [4]. Necessity and Feasibility of Projects - The projects align with the company's strategic planning and are deemed necessary and feasible, given the strong growth potential of China's digital economy and the government's support for digital transformation [5][10]. Impact of Postponement - The postponement is seen as a prudent decision that aligns with the company's operational status and future development needs, ensuring that the projects can be implemented smoothly without affecting the overall financial health of the company [11]. Sponsor Institution's Review Opinion - The sponsor institution has reviewed the postponement decision and found it compliant with relevant laws and regulations, confirming that it does not require shareholder approval [11].

Fundraising Overview - The company, Shanghai Wangda Software Co., Ltd., raised a total of approximately RMB 739.99 million through a non-public offering of 48,748,349 shares at a price of RMB 15.18 per share, after deducting issuance costs of RMB 9.85 million, resulting in a net amount of RMB 730.15 million [1][2] Fund Utilization - The raised funds are allocated to three main projects: "High-tech Video Service Platform Project," "AI Video Big Data Platform Project," and "Supplementing Working Capital," with a total investment requirement of RMB 978.23 million. The funding gap will be addressed through bank loans and other self-raised funds [2] Cash Management of Idle Funds - The company plans to manage idle funds from the fundraising by investing in low-risk financial products, ensuring safety and liquidity, with a maximum investment period of 12 months. The investment types include bank wealth management products, structured deposits, and large certificates of deposit [3][4] Decision-Making and Approval Process - The board of directors has authorized the management to make investment decisions within a limit of RMB 400 million for cash management, allowing for rolling use of funds without needing separate board or shareholder approval for each transaction [3][4] Impact on Company Operations - The cash management strategy is designed to enhance the efficiency of fund utilization without affecting the normal operation of fundraising projects or the company's core business. It aims to generate additional investment returns, thereby improving overall performance and shareholder value [4][5] Sponsor's Verification Opinion - The sponsor, Huatai United Securities, has confirmed that the company has complied with necessary legal procedures and regulations, and the cash management does not alter the intended use of the raised funds or harm shareholder interests, thus supporting the initiative [5]