Core Points - The company has reported on the status of its fundraising and usage of funds for the first half of 2025, ensuring compliance with relevant regulations and guidelines [1][27][28] Fundraising Overview - The company raised a total of RMB 122,745.00 million through the issuance of 105 million shares at a price of RMB 11.69 per share, with a net amount received of RMB 115,825.79 million after deducting underwriting fees [1][2] - As of December 31, 2024, the cumulative amount used from the raised funds was RMB 85,401.36 million, leaving a balance of RMB 33,787.48 million [3] Fund Usage in 2025 - In the first half of 2025, the company directly invested RMB 8,922.68 million into fundraising projects and incurred a total of RMB 0.52 million in settlement fees [4][5] - The company generated a total of RMB 1,341.72 million from cash management of idle funds, which includes RMB 12.98 million in interest income [5] Fund Management - The company has established a management system for the raised funds, including a dedicated account for fund storage and strict approval processes to ensure proper usage [7] - As of June 30, 2025, the company had a remaining balance of RMB 26,206.00 million in raised funds, with RMB 3,206.00 million in the dedicated account [5][6] Changes in Fund Investment Projects - The company terminated the "Animal Biological Product Workshop Technical Transformation Project" and redirected the remaining funds of RMB 28,713.72 million to a new project, "High-level Animal Vaccine Industrialization Base Construction Project (Phase I)" [13][14] Compliance and Reporting - The company has adhered to all relevant regulations regarding the storage and usage of raised funds, ensuring timely and accurate disclosures [16][27][28]

Core Viewpoint - The report provides a detailed account of Wuhan Keqian Biological Co., Ltd.'s fundraising activities, including the total amount raised, usage of funds, and management practices, ensuring compliance with regulatory requirements [1][2][3][4][5] Fundraising Overview - The company raised a total of RMB 1,227.45 million through the issuance of 105 million shares at a price of RMB 11.69 per share, with net proceeds amounting to RMB 1,158.26 million after deducting underwriting fees [1] - As of December 31, 2024, the cumulative amount invested from the raised funds was RMB 854.01 million, leaving a balance of RMB 337.87 million [1][2] Fund Usage and Management - The company has established a dedicated account for managing the raised funds, adhering to the "Three-party Supervision Agreement" with the bank and sponsor to ensure proper usage [1][2] - As of June 30, 2025, the company had directly invested RMB 89.23 million into fundraising projects and incurred a total of RMB 5.20 million in handling fees [2][3] Cash Management - The company has utilized idle funds for cash management, achieving a total return of RMB 13.42 million from interest and investment income [1][3][5] - The total amount of idle funds managed was RMB 365 million, with a cash management balance of RMB 230 million as of June 30, 2025 [5] Project Changes - The company terminated the "Animal Biological Product Workshop Technical Renovation Project" and redirected the remaining funds of RMB 287.14 million to the "High-level Animal Vaccine Industrialization Base Construction Project (Phase I)" [4][5] - The decision to change the project was approved by the board and the supervisory committee, ensuring compliance with regulatory requirements [4][5] Fund Usage Reporting - The report includes detailed tables showing the usage of raised funds, with a total of RMB 94.32 million invested in various projects by the end of the reporting period [4][5] - The company has not encountered any issues in disclosing the usage of funds, maintaining transparency in accordance with regulatory guidelines [4]