Core Viewpoint - The company plans to temporarily use part of its idle raised funds, amounting to 50,000.00 million RMB, to supplement its working capital, which is expected to enhance the efficiency of fund utilization and reduce financial costs [2][6][8] Fundraising Overview - The company raised a total of 142,000.00 million RMB by issuing 21,353,383 shares at a price of 66.50 RMB per share, after deducting related external costs of 397.30 million RMB [1][2] - The funds are stored in a dedicated account with a tripartite supervision agreement in place [1] Reasons for Idle Funds - The company has terminated the "Annual Production of 80 Sets of Semiconductor Material Polishing and Thinning Equipment Manufacturing Project," leading to idle funds [2] - The ongoing "12-inch Integrated Circuit Large Silicon Wafer Equipment Testing Experimental Line Project" requires time for construction, resulting in part of the raised funds being idle [2] Previous Use of Idle Funds - In a prior instance, the company used 40,000.00 million RMB of idle funds to supplement working capital, with a usage period not exceeding 12 months [4][5] Current Plan for Idle Funds - The company intends to use 50,000.00 million RMB of idle funds for working capital, with a maximum usage period of 12 months, after which the funds will be returned to the dedicated account [6][8] - The expected savings on financial costs from this usage is estimated at 1,500.00 million RMB per year, based on a one-year loan market quotation rate (LPR) of 3.00% [6] Approval Process - The board of directors and the supervisory board have approved the plan to use idle funds, confirming that it will not affect the normal progress of investment projects [7][8] - The supervisory board supports the decision, stating it aligns with regulatory requirements and does not harm shareholder interests [7][8] Sponsor's Verification - The sponsor, Xinyi Securities, has verified that the use of idle funds complies with necessary legal procedures and will not impact the implementation of investment projects [8][9]

Core Viewpoint - The company announced adjustments to certain fundraising projects, including the termination of the "annual production of 80 sets of semiconductor material polishing and thinning equipment" project and the postponement of the "12-inch integrated circuit large silicon wafer equipment testing experimental line project" to June 30, 2027 [2][3][6] Project Adjustment Background - The adjustments were made based on the industry's development trends and the company's actual business situation, responding to the surge in domestic equipment demand in the semiconductor industry [3] - The company shifted its strategy to procure components from the supply market and enhance automation and intelligent production management, leading to significant savings in funds originally planned for importing equipment [3] - The wholly-owned subsidiary, Jinghong Precision, has developed core manufacturing capabilities to meet the demand for key components of polishing and thinning equipment, avoiding redundant construction and improving fund utilization efficiency [3] Remaining Fund Arrangement - As of May 31, 2025, the remaining balance of funds from the terminated project is 430.31 million yuan (including interest income and net of bank fees) [4] - These funds will continue to be managed in the original fundraising account, and the company will actively plan and evaluate new investment projects to ensure efficient use of the funds [4] Fundraising Project Postponement - The postponement of the "12-inch integrated circuit large silicon wafer equipment testing experimental line project" is due to the need for extended testing and validation cycles for the equipment, driven by ongoing technological and process innovations [6] - The postponement does not involve changes to the project's implementation entity, investment purpose, or scale, and will not adversely affect the project's execution [6] Project Re-evaluation - The necessity of the project is highlighted by the need to improve testing conditions, enhance R&D and testing capabilities, cultivate talent, and support domestic substitution in the semiconductor industry [7] - The project will help meet high standards in laboratory testing, accelerate the industrialization process, and attract high-quality R&D talent [7] Feasibility of the Project - The feasibility is supported by the company's experienced R&D team, technical reserves, and national policies encouraging technological innovation [8] - The company possesses core technologies and a strong capacity for continuous innovation, backed by supportive national policies [8] Impact on the Company - The termination of certain fundraising projects and the postponement are reasonable adjustments based on the company's actual situation and will not significantly impact normal operations [9] - These changes will enhance the efficiency of fund utilization and optimize resource allocation, aligning with the company's future strategic requirements [9]

Core Viewpoint - The company Jing Sheng Mechanical and Electrical (SZ300316) has announced significant changes to its investment projects in the semiconductor sector, including the termination of a semiconductor equipment project and a two-year delay for the 12-inch silicon wafer project. Group 1: Project Adjustments - The semiconductor equipment project, originally planned with an investment of 500 million yuan, has been terminated due to long procurement cycles for imported equipment, which did not meet the company's market response needs [6][5] - The remaining funds from the terminated project will continue to be managed in a dedicated account as per legal requirements [6][4] Group 2: Financial Overview - In 2022, the company raised 1.42 billion yuan through a private placement, allocating funds to three projects: the 12-inch silicon wafer project, the semiconductor equipment project, and working capital [2][4] - The semiconductor equipment project was expected to generate an annual sales revenue of approximately 623 million yuan and an average annual profit of about 165 million yuan upon completion [5] Group 3: 12-Inch Silicon Wafer Project - The 12-inch silicon wafer project has been postponed by two years, with a new expected completion date set for June 2027 [10][11] - The project aims to establish a comprehensive experimental line for various processes, including crystal growth, cutting, grinding, polishing, cleaning, and testing [8][10] - The company continues to affirm the necessity and feasibility of the 12-inch silicon wafer project despite the delay [11]