Core Viewpoint - The report provides a comprehensive overview of the company's financial performance, fundraising activities, and asset impairment provisions for the first half of 2025, ensuring compliance with relevant regulations and transparency in financial reporting [4][30]. Group 1: Company Overview - The company, 中信科移动通信技术股份有限公司 (CITIC Telecom), is listed under the stock code 688387 and focuses on mobile communication technology [2]. - The board of directors and supervisory board confirm the authenticity and completeness of the half-year report, with no significant risks affecting operations during the reporting period [1][2]. Group 2: Financial Data - The total amount raised from the initial public offering was RMB 413,668.75 million, with a net amount of RMB 401,132.53 million after deducting issuance costs [4]. - As of June 30, 2025, the cumulative investment from the raised funds amounted to RMB 328,740.90 million, leaving a balance of RMB 84,906.05 million [5]. Group 3: Fund Management - The company has established a dedicated account for managing the raised funds, ensuring compliance with legal and regulatory requirements [4]. - The company has utilized part of the idle raised funds for cash management, with a balance of RMB 670 million as of June 30, 2025 [10]. Group 4: Asset Impairment - The company recognized an asset impairment provision of RMB 96.98 million for the first half of 2025, which includes provisions for inventory and credit losses [30]. - The impairment testing was conducted in accordance with accounting standards, ensuring a fair representation of the company's financial status [30]. Group 5: Corporate Governance - The supervisory board approved the half-year report and the special report on the use of raised funds, confirming adherence to regulatory guidelines and the absence of any misuse of funds [22][19]. - The company has not made any changes to the fundraising projects or used excess funds for operational expenses during the reporting period [12][10].

Core Viewpoint - The company announced an extension of the implementation deadlines for its fundraising projects related to 5G technology development until December 31, 2026, due to delays in the global 5G industrialization process and evolving customer needs [2]. Group 1: Fundraising Projects - The total amount planned for the initial public offering (IPO) is 400 million yuan, with a net amount of 11.33 million yuan raised beyond the initial target [2]. - The company is adjusting the research and development timelines for several projects in response to the slower pace of 5G network construction by major clients and the longer development cycle for 5G-A technology [2]. Group 2: Specific Projects - **5G Wireless System Product Upgrade and Technology Evolution R&D Project**: As of December 31, 2024, the investment progress is 66.16%. The project has completed the development of products such as 5G multi-band multi-mode base stations, supporting domestic and international client needs. The project will be extended to December 31, 2026, to better align with product technology evolution and client demands [3]. - **5G Industry Private Network and Intelligent Application R&D Project**: As of December 31, 2024, the investment progress is 61.64%. The project has developed 5G private network products that meet the initial construction needs of niche markets. The extension to December 31, 2026, aims to better match the evolving demands of clients in vertical industries [4]. - **5G Integrated Antenna and New Indoor Distribution Equipment R&D Project**: As of December 31, 2024, the investment progress is 72.20%. The project has developed integrated antennas and indoor distribution equipment to meet client needs for 5G network construction. The extension to December 31, 2026, is intended to support the transition to 5G-A and the development of high-quality indoor solutions [5].

Core Viewpoint - The company has decided to extend the implementation deadlines for its fundraising projects related to 5G technology until December 31, 2026, due to delays in project progress and changes in market conditions [1][7][10]. Group 1: Fundraising Overview - The company raised a total of RMB 413,668.75 million from its initial public offering, with a net amount of RMB 401,132.53 million after deducting issuance costs [2]. - The funds have been fully received and are being managed in dedicated accounts as per regulatory requirements [2][3]. Group 2: Project Details - The fundraising projects include "5G Wireless System Product Upgrade and Technology Evolution R&D Project," "5G Industry Private Network and Intelligent Application R&D Project," and "5G Fusion Antenna and New Indoor Distribution Equipment R&D Project" [1][3]. - The total planned investment for these projects is RMB 400,000 million, with an actual excess of RMB 1,132.53 million [3][4]. Group 3: Project Delay Reasons - The delay in project implementation is attributed to the slowdown in 5G network construction by major clients and the longer development cycle for 5G-A technology [7][9]. - As of December 31, 2024, the investment progress for the projects was reported at 66.16%, 61.64%, and 72.20% respectively [8][9]. Group 4: Impact and Compliance - The extension of the project deadlines does not alter the intended use of funds, total investment, or project implementation entities, ensuring no adverse impact on the company's operations or shareholder interests [9][10]. - The company will continue to adhere to relevant regulations and guidelines to ensure effective management of the raised funds [9][10].

Group 1 - The stock price of Xinke Mobile (688387.SH) closed at 5.47 yuan, with a decline of 1.26%, marking four consecutive trading days of losses [1] - The company is currently in a state of stock price decline, having broken its initial offering price of 6.05 yuan per share [1] - Xinke Mobile was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on September 26, 2022, with an initial public offering (IPO) of 68,375,000 shares before the exercise of the over-allotment option [1] Group 2 - The total amount raised by Xinke Mobile before the full exercise of the over-allotment option was 413,668.75 million yuan, with a net amount of 401,132.53 million yuan after deducting issuance costs [2] - After the full exercise of the over-allotment option, the total amount raised increased to 475,719.06 million yuan, with a net amount of 461,704.25 million yuan [1][2] - The actual net fundraising amount after the full exercise of the over-allotment option exceeded the original planned fundraising by 61,704.25 million yuan [1]