Core Viewpoint - The report provides a reasonable assurance on the management and actual use of the funds raised by Shanghai Jin Jiang International Hotel Co., Ltd. for the year 2024, confirming compliance with regulatory requirements and accurate reflection of fund usage [1][3][11]. Group 1: Responsibilities - The responsibility for preparing the special report lies with the board of directors of Jin Jiang Hotel, which includes ensuring the report's content is true, accurate, and complete, without any false records or significant omissions [2][4]. - The registered accountants are responsible for providing assurance on the special report based on their verification work, adhering to professional ethical standards [2][3]. Group 2: Fundraising and Usage - The company raised a total of RMB 4,999,999,985.80 through a non-public offering of 112,107,623 shares at RMB 44.60 per share, with a net amount of RMB 4,978,545,167.30 after deducting issuance costs [4][11]. - As of December 31, 2024, the total amount of funds used is RMB 297,570.86 million, which includes RMB 16,285.48 million used in the current year [4][7][11]. Group 3: Fund Management - The company has established a management system for the raised funds, including special account storage and strict approval procedures to ensure proper management and usage [4][5]. - The total balance of the funds in special accounts as of December 31, 2024, is RMB 231,405.42 million, distributed across various banks [7][11]. Group 4: Changes in Fund Usage - The company has approved changes in the use of part of the raised funds, reallocating RMB 85,020.00 million for acquiring a 65% stake in WeHotel and RMB 32,700.00 million for acquiring an additional 25% stake [10][11]. - The company has also used its own funds to pay for certain project expenses, which will later be replaced with the raised funds, amounting to RMB 29,846.17 million [8][11]. Group 5: Compliance and Issues - The report confirms that the company has adhered to the regulations regarding the management and use of raised funds, with no violations reported [11]. - There were instances of judicial seizure of funds amounting to RMB 3.42 million and RMB 1.27 million due to labor disputes, but the company has taken measures to address these issues without significant impact on operations [9][11].