Core Viewpoint - The report outlines the fundraising and usage status of Xiamen Jiarong Technology Co., Ltd. as of June 30, 2025, highlighting compliance with regulatory requirements and detailing the management of raised funds [1][3]. Fundraising Overview - The company raised a total of RMB 1,118.30 million through the issuance of 29.13 million shares at a price of RMB 38.39 per share, with a net amount of RMB 989.01 million after deducting issuance costs of RMB 129.29 million [1][2]. - The funds were deposited into a designated bank account on April 18, 2022, and verified by an accounting firm [1]. Fund Usage and Balance - As of June 30, 2025, the company directly invested RMB 1.66 million in fundraising projects during the reporting period, with a total of RMB 48.70 million invested cumulatively [5][8]. - The company has a cash management balance of RMB 53.10 million from idle funds, which is being used for high-security, liquid financial products [5][9]. Fund Management Practices - The company has established a fundraising management method to ensure the proper storage, approval, usage, and supervision of the raised funds, adhering to principles of regulation, safety, efficiency, and transparency [2][3]. - The company signed tripartite supervision agreements with several banks to clarify the rights and obligations of all parties involved in the management of the raised funds [3][4]. Project Implementation and Adjustments - The company has made adjustments to the implementation timelines of several projects, extending deadlines to December 31, 2025, due to external macroeconomic factors and operational challenges [8][9]. - The company plans to enhance its project implementation locations and structures to better support its long-term development strategy [8][9]. Compliance and Reporting - The company has complied with the relevant regulations and has disclosed the usage of raised funds in a timely manner, with no violations reported regarding the management of these funds [8][9].