Fundraising Overview - The company raised a total of RMB 710,999,928.08 through the issuance of 50,176,424 shares at a price of RMB 14.17 per share, with a face value of RMB 1 per share [1] - The net amount raised from the stock issuance was RMB 695,059,960.26 after deducting various expenses [1] - The company adjusted the intended use of the raised funds from RMB 150 million to RMB 69.506 million due to lower-than-expected fundraising results [1] Fund Allocation and Adjustments - The company allocated RMB 205 million for working capital and RMB 44.91 million to replace pre-invested funds in projects, with the remaining funds being subject to interest income and investment returns [1] - As of June 30, 2025, the balance of the fundraising account was RMB 455,099,876.65, with specific allocations detailed [2] - The company has established a management system for the special storage and use of raised funds, ensuring compliance with relevant regulations [2][8] Project Updates and Changes - The company decided to change the use of unallocated funds from two projects to the "Kumino (Egypt) Suez Phosphate Chemical Project," which involves the construction of various chemical production facilities [7] - The decision to shift funds was made in response to changes in the competitive landscape of the new energy market, aiming to enhance the efficiency of fund utilization [7] - The company has reported that the 30,000 tons/year sulfuric acid project reached operational status in August 2023, contributing to the production of sulfuric acid for its chemical products [6] Compliance and Reporting - The company has adhered to regulatory requirements for the management and use of raised funds, ensuring timely and accurate disclosures without any violations [8] - Independent audits and verification reports have been conducted to confirm the proper use of funds and compliance with established protocols [2][8]