Sanyuan Bio: Special report on the storage, management and use of raised funds in 2025
Securities code: 301206 Securities abbreviation: Sanyuan Biotechnology Announcement number: 2026-017
Shandong Sanyuan Biotechnology Co., Ltd.
Special report on the storage, management and use of raised funds in 2025
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete, and contains no false records, misleading statements or major omissions.
In accordance with the "Supervision Rules for Fund Raising by Listed Companies" and "Shenzhen Stock Exchange GEM Stock Listing Rules" issued by the China Securities Regulatory Commission, "Shenzhen Stock Exchange Self-Regulatory Guidelines for Listed Companies No. 2 - Standardized Operations of GEM Listed Companies" and "Shenzhen Stock Exchange GEM Listed Companies Self-Regulatory Guidelines No. 2 - Announcement Format" and other relevant regulations, the board of directors of Shandong Sanyuan Biotechnology Co., Ltd. (hereinafter referred to as the "Company") has prepared a special report on the storage, management and use of raised funds in 2025. The specific situation is now announced as follows:
1. Basic situation of raised funds
(1) Actual amount of funds raised and fund arrival status
Approved by the China Securities Regulatory Commission's "Reply on Approving the Registration of the Initial Public Offering of Shandong Sanyuan Biotechnology Co., Ltd." (CSRC License [2021] No. 4073), and with the consent of the Shenzhen Stock Exchange, the company publicly issued 33.721 million RMB ordinary shares (A shares) to the public, with a par value of RMB 1.00 per share and an issuance price of RMB 109.30. Yuan/share, the total amount of funds raised was RMB 3,685,705,300. After deducting the underwriting fee of RMB 117,942,600 from CITIC Securities Co., Ltd., the lead underwriter, the balance of RMB 3,567,762,700 has been transferred to the special account for raised funds opened by the company through CITIC Securities Co., Ltd. on January 28, 2022. After deducting other issuance expenses of RMB 21,118,100 (including other unpaid expenses of RMB 660,400), the net amount of funds raised was RMB 3,546,644,600. The above-mentioned receipt of funds has been verified and confirmed by Shanghui Accounting Firm (Special General Partnership) with the "Shanghuishi Baozi [2022] No. 0289" capital verification report.
(2) Use and balance of raised funds in this year and previous years
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- The amount of funds raised by the company this year and the current balance are as follows:
Detailed statement of the use of raised funds in 2025
As of December 31, 2025
Unit: RMB
Total raised funds used in 2025: 1,188,867,777.46 Balance of raised funds as of December 31, 2025: RMB 1,278,093,671.45
Item Amount
Balance of raised funds at the beginning of 2025 2,227,790,008.06 plus: interest income 239,171,440.85 minus: use of raised funds in 2025 1,188,867,777.46 including: supplementary working capital 40,776,350.28 permanent supplementary working capital after completion of the raised investment project 354,101,427.18
Over-raised funds permanently replenish working capital 793,990,000.00 Actual balance of raised funds 1,278,093,671.45 Among them: balance used for cash management 1,277,000,000.00
Balance of raised funds special account 1,093,671.45
- The company’s cumulative usage amount and current balance of raised funds as of December 31, 2025 are as follows:
Detailed list of cumulative use of raised funds in 2025
As of December 31, 2025
Unit: RMB
The total amount of raised funds used as of December 31, 2025: The balance of raised funds as of December 31, 2025: 2,671,712,751.99 1,278,093,671.45 yuan
Item Amount
Total raised funds 3,685,705,300.00 Plus: Interest income 264,101,143.44 Less: Cumulative use of raised funds as of December 31, 2025 2,671,712,751.99 Including: Paid underwriting and sponsorship fees 117,942,569.60 Replacement of self-raised funds pre-invested in fundraising projects 401,358,014.05 Other issuance expenses paid by replacement 5,197,771.37 Payment of issuance expenses 15,259,941.29 Over-raised funds permanently replenish working capital 1,583,990,000.00 Interest income generated from over-raised funds permanently replenishing working capital 7,157,198.60 Funds directly invested in investment projects 44,250,056.41 Supplementary working capital 142,455,773.49 Permanent supplementary working capital upon completion of the raised investment project 354,101,427.18 Less: handling fee 20.00
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Actual balance of raised funds 1,278,093,671.45, including: balance used for cash management 1,277,000,000.00 balance of raised funds special account 1,093,671.45
As of December 31, 2025, the company has used a total of 2,671,712,751.99 yuan of raised funds, of which: the company has paid underwriting and sponsorship fees of 117,942,569.60 yuan, and paid issuance fees of 15,259,941.29 yuan Before the raised funds are in place, the raised funds will be used to replace the pre-invested investment projects and issuance fees of 406,555,785.42 yuan; after the raised funds are in place, 44,250,056.41 yuan of raised funds will be used, 142,455,773.49 yuan of supplementary working capital will be used, and the super-raised funds will be used to permanently supplement working capital. 1,591,147,198.60 yuan, and the completion of the raised investment project will permanently supplement the working capital of 354,101,427.18 yuan. As of December 31, 2025, the balance of raised funds was RMB 1,278,093,671.45, of which RMB 1,277,000,000.00 was used for cash management and the balance of the special account for raised funds was RMB 1,093,671.45.
2. Storage and management of raised funds
(1) Management of raised funds
In order to standardize the use and management of raised funds, improve the efficiency of fund use, and protect the interests of investors, in accordance with the "Supervision Rules for Funds Raised by Listed Companies", "Shenzhen Stock Exchange GEM Stock Listing Rules" and "Shenzhen Stock Exchange Self-Discipline Supervision Guidelines for Listed Companies No. 2" No. - Standardized Operation of GEM Listed Companies" and other laws, regulations and normative documents as well as the relevant provisions of the "Articles of Association", combined with the actual situation of the company, the "Raised Fund Management Measures" were formulated, which clearly stipulated the storage, use, change, supervision and accountability, approval, decision-making procedures and information disclosure procedures of the company's special account for raised funds.
January 28, 2022 On the same day, the company signed the "Tripartite Supervision Agreement on Raised Funds" with Binzhou Branch of Weifang Bank Co., Ltd. (hereinafter referred to as "Weifang Bank Binzhou Branch"), Binzhou Branch of Industrial Bank Co., Ltd. (hereinafter referred to as "Industrial Bank Binzhou Branch"), Binzhou Branch of China Everbright Bank Co., Ltd. (hereinafter referred to as "Everbright Bank Binzhou Branch"), and the sponsor China Securities Co., Ltd. (hereinafter referred to as "China Construction Investment Securities"). On February 25, 2022, the "Tripartite Supervision Agreement on Raised Funds" was signed with China Merchants Bank Co., Ltd. Binzhou Branch (hereinafter referred to as "China Merchants Bank Binzhou Branch") and the sponsor CITIC Securities, which clarifies the rights and obligations of all parties.
There are no major differences between the company's tripartite supervision agreement and the Shenzhen Stock Exchange's sample tripartite supervision agreement for raised funds. All parties to the agreement have performed relevant responsibilities in accordance with the provisions of the tripartite supervision agreement. As of December 2025
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As of March 31, the Company deposited and used raised funds in strict accordance with the provisions of the "Administrative Measures for Raised Funds" and the "Tripartite Supervision Agreement on Raised Funds".
(2) Storage status of raised funds in special accounts
As of December 31, 2025, the balance of the raised funds storage account was 1,093,671.45 yuan, and the specific deposits are as follows:
Unit: RMB yuan order
Account name Opening bank Bank account number Initial deposit amount
December 31, 2025
Purpose Remark No.
Daily balance
Annual output of 50,000 Shandong Sanyuan students
Bank of Weifang Bin 802200001421 tons of erythrose1 Biotechnology Co., Ltd. 770,000,000.00 0.00
State Branch 020475 Chunji Technology Co., Ltd.
Central Project Shandong Sanyuansheng
Industrial Bank Bin 376810100100 Supplementary Liquidity 2 Biotechnology Shares 130,000,000.00 0.00
State Branch 629127 Funds
Ltd.
In the initial amount, Shandong Sanyuan Sheng
China Everbright Bank Bin 565001808057 IPO over-raising contains 800 million yuan3 Wu Technology shares 2,667,762,730.40 204,516.65
State branch 87862 funds will be subsequently transferred to Zhao Co., Ltd.
Binzhou Branch of Commercial Bank of China
Initial amount 8 Shandong Sanyuan Sheng
China Merchants Bank Bin 543900405710 IPO raised over 100 million yuan from China Everbright 4 Materials Technology Co., Ltd. 800,000,000.00 889,154.80
Binzhou Branch 602 Capital Bank Binzhou Branch Co., Ltd.
Subsequent transfer to the union
- - - 3,567,762,730.40 1,093,671.45 - -
plan
In order to improve the efficiency of the use of raised funds, the company used part of the temporarily idle super-raised funds for cash management to purchase principal-guaranteed bank financial management. As of December 31, 2025, the ending financial management balance was 1,277,000,000.00 yuan, and the details are as follows:
Unit: RMB
Account holder Depositing bank Balance Shandong Sanyuan Biotechnology Co., Ltd. China Everbright Bank Co., Ltd. Binzhou Branch 1,224,000,000.00 Shandong Sanyuan Biotechnology Co., Ltd. China Merchants Bank Co., Ltd. Binzhou Branch 53,000,000.00
Total - 1,277,000,000.00
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3. Actual use of funds raised in 2025
For details on the actual use of the company's raised funds in 2025, please see the attached "Comparison of the Use of Raised Funds".
4. Change the use of funds raised for investment projects
As of December 31, 2025, the company had not changed its investment projects or had any external transfer or replacement of its investment projects.
5. Problems in the use and disclosure of raised funds
In 2025, the company used raised funds in strict accordance with the relevant provisions and requirements of the "Regulations on the Supervision of Funds Raised by Listed Companies", "Shenzhen Stock Exchange GEM Stock Listing Rules", "Shenzhen Stock Exchange Self-Regulatory Guidelines for Listed Companies No. 2 - Standardized Operation of GEM Listed Companies" and other laws and regulatory documents, as well as the company's "Raised Funds Management Measures", and disclosed the use of raised funds in a timely, truthful, accurate and complete manner. There were no violations in the storage, use, management and disclosure of raised funds.
6. Documents for reference
(1) Attachment: "Comparison of Usage of Raised Funds"
Announcement hereby
Board of Directors of Shandong Sanyuan Biotechnology Co., Ltd. April 29, 2026
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Schedule
Comparison table of usage of raised funds
2025
Prepared by: Shandong Sanyuan Biotechnology Co., Ltd. Unit: RMB 10,000 Total raised funds 368,570.53 Total invested raised funds this year 118,886.78
Total amount of raised funds changed in use during the reporting period 0.00
Total investment has been made
Cumulative total amount of raised funds changed in use 0.00 267,171.28
Total funds raised
The cumulative proportion of total raised funds that have been repurposed is 0.00%
Whether it has changed Raised funds After adjustment Investment this year Cumulative investment as of the end of the period Investment as of the end of the period The project has reached the predetermined feasibility. Realized this year Whether the feasibility of the project has been achieved is a committed investment project
Updated project (including total amount of committed investment (1) amount of investment (2) progress (%) (3) benefit calculated from the status date and whether any major changes have occurred and the investment direction of the excess funds
Partial change) Total amount = (2)/(1) Chemical commitment investment projects
Annual output of 50,000 tons of erythritol and technology
No 77,000.00 77,000.00 44,560.81 (Note 1) 57.87 (Note 2) 6,162.71 No No Surgery Center Project
Supplementary working capital No 13,000.00 13,000.00 4,077.64 14,245.58 109.58 Not applicable Not applicable Not applicable No
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Subtotal of committed investment projects - 90,000.00 90,000.00 4,077.64 58,806.39 - - 6,162.71 - - Investment direction of excess raised funds
Permanent supplementary working capital No 158,399.00 79,399.00 159,114.72 100.45 Not applicable Not applicable Not applicable No payment of issuance fees (Note 3) No 13,906.07 13,840.03 99.53 Not applicable Not applicable Not applicable No Unactivated super-raised funds No 106,265.46 Not applicable Not applicable Not applicable No Subtotal of investment of raised funds - 278,570.53 79,399.00 172,954.75 - - -
Total - 90,000.00 368,570.53 83,476.64 231,761.14 - - 6,162.71 -
The construction of the technology center in the "Annual Production of 50,000 tons of erythritol and technology center project" has been completed. The technology center does not generate economic benefits and is not applicable; the annual production of 50,000 tons of erythritol has not reached the planned progress or the expected revenue has been affected by factors such as intensified competition in the erythritol industry, slowdown in demand growth from downstream customers, and anti-dumping. As a result, the price is still at a low level, production and sales have decreased, and the expected revenue has not been achieved during the reporting period (by specific projects).
Items to supplement working capital do not produce economic benefits and are not applicable.
Project feasibility occurs significantly
The feasibility of the project has not changed significantly.
Description of changing circumstances
The company's initial public offering of stocks raised a total of 3,685,705,300 yuan. After deducting issuance expenses (excluding tax) of 139,060,700 yuan, the net amount of funds raised was 3,546,644,600 yuan. After deducting the 900,000,000 yuan investment project with raised funds, the company's net excess raised funds was 2,646,644,600 yuan.
- The company held the third meeting of the fourth session of the Board of Directors and the third meeting of the fourth session of the Supervisory Board on January 28, 2022. The meeting reviewed and approved the "Proposal on Using Part of Temporarily Idle Raised Funds (Including Over-raised Funds) for Cash Management" and agreed that the company intends to use no more than the amount, purpose and use of the over-raised funds without affecting the construction of investment projects with raised funds and ensuring the safe use of raised funds.
RMB 3.3 billion of raised funds (including over-raised funds) are temporarily idle for cash management. The independent directors of the company issued an independent opinion of agreement, the board of supervisors issued an opinion of agreement, and the progress of the recommendation machine
The agency issued a verification opinion.
The company held the fourth meeting of the fourth board of directors and the fourth meeting of the fourth board of supervisors on February 14, 2022, and held the first extraordinary shareholders meeting of 2022 on March 2, 2022. The above meeting reviewed and approved the "Proposal on Using Part of the Over-raised Funds to Permanently Supplement Working Capital" and agreed that the company would use RMB 790 million of the over-raised funds to permanently supplement working capital. The company's independent directors issued an independent opinion in agreement, the Board of Supervisors issued an opinion in agreement, and the sponsor issued a verification opinion. As of December 31, 2022,
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RMB 790,000,000 and interest of RMB 7,157,200 were transferred from the special account of raised funds for permanent replenishment.
- The company held the 14th meeting of the fourth board of directors and the 11th meeting of the fourth board of supervisors on February 8, 2023, and held the first extraordinary shareholders meeting of 2023 on February 24, 2023. The above meeting reviewed and approved the "About the Use of Part of Temporarily Idle Funds". "Proposal on Raising Funds (including Over-raised Funds) for Cash Management", which agreed that the company would use no more than 2.4 billion yuan of temporarily idle raised funds (including over-raised funds) for cash management without affecting the construction of investment projects with raised funds and ensuring the safe use of raised funds. The company's independent directors issued an independent opinion in agreement, the Board of Supervisors issued an opinion in agreement, and the sponsor issued a verification opinion.
The company held the 14th meeting of the fourth board of directors and the 11th meeting of the fourth board of supervisors on February 8, 2023, and held the first extraordinary shareholders' meeting of 2023 on February 24, 2023. The above meeting reviewed and approved the "About the Use of Part of the Super Fund Raising" "Proposal on Permanently Replenishing Liquidity Capital", agreeing that the company will use RMB 790 million of super-raised funds to permanently replenish working capital starting from the date when the last use of super-raised funds to permanently replenish working capital is completed twelve months ago (i.e. March 2, 2023). The company's independent directors issued an independent opinion in agreement, the Board of Supervisors issued an opinion in agreement, and the sponsor issued a verification opinion.
The company held the 17th meeting of the fourth board of directors and the 13th meeting of the fourth board of supervisors on August 30, 2023, and held the second extraordinary shareholders' meeting of 2023 on September 15, 2023. The above meeting reviewed and approved the "About Cancellation of the Use of Part of the Over-raised Funds" "Proposal on Permanent Replenishment of Liquidity Capital", which agreed to the company's cancellation of the previously planned use of 790 million yuan of super-raised funds to permanently replenish liquidity. The company's independent directors issued an independent opinion of agreement, the board of supervisors issued an agreement, and the sponsor issued a verification opinion.
The company held the 19th meeting of the fourth board of directors and the 15th meeting of the fourth board of supervisors on February 2, 2024, and held the first extraordinary shareholders meeting of 2024 on February 20, 2024. The above meeting reviewed and approved the "About the Continuing to Use Part of the Temporarily Idle Company" "Proposal on Cash Management of Raised Funds (including Over-raised Funds)", which agrees that the company will use no more than 2.4 billion yuan of temporarily idle raised funds (including over-raised funds) for cash management without affecting the construction of investment projects with raised funds and ensuring the safe use of raised funds. The board of supervisors issued a concurring opinion, and the sponsor issued a verification opinion.
The company held the fifth meeting of the fifth board of directors and the fifth meeting of the fifth board of supervisors on January 24, 2025, and the second extraordinary shareholders' meeting of 2025 on February 10, 2025. The above meeting reviewed and approved the "About the Use of Proposal on Temporarily Idle Over-raised Funds for Cash Management", agreeing that the company will use no more than 1.90 billion yuan of temporarily idle over-raised funds for cash management without affecting the construction of investment projects with raised funds and ensuring the safe use of raised funds. The board of supervisors issued a concurring opinion, and the sponsor issued a verification opinion.
The company held the fifth meeting of the fifth board of directors and the fifth meeting of the fifth board of supervisors on January 24, 2025, and held the second extraordinary shareholders' meeting of 2025 on February 10, 2025. The above meeting reviewed and approved the "Proposal on Using Part of the Over-raised Funds to Permanently Supplement Working Capital" and agreed that the company would use RMB 793.99 million of the over-raised funds to permanently supplement working capital. The board of supervisors issued a concurring opinion, and the sponsor issued a verification opinion.
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Raising funds for investment projects
Not applicable
Implementation location changes
Raising funds for investment projects
Not applicable
Adjustments to implementation methods
The company held the fourth meeting of the fourth board of directors and the fourth meeting of the fourth board of supervisors on February 14, 2022. The meeting reviewed and approved the "Proposal on Substituting Raised Funds for Pre-invested Raised Fund Investment Projects and Self-raised Funds for Issue Fees Paid", and agreed that the company would use raised funds to replace 401.358 million yuan of self-raised funds pre-invested in raised fund projects and raised fund investment projects.
Self-raised funds of 5.1978 million yuan have been paid for issuance fees, totaling 406.5558 million yuan. The company's independent directors have issued an independent opinion of agreement, the board of supervisors has issued an opinion of agreement, and the sponsor's initial investment and replacement status
issued a verification opinion, and Shanghui Accounting Firm (Special General Partnership) issued the "Special Assurance Report on the Replacement of Raised Funds of Shandong Sanyuan Biotechnology Co., Ltd." (Shanghuishi Baozi (2022) No. 0487). As of February 15, 2022, the above replacement has been completed.
Use idle funds to raise funds
Not applicable
Temporarily replenish working capital situation
The company held the third meeting of the fourth board of directors and the third meeting of the fourth board of supervisors on January 28, 2022. The meeting reviewed and approved the "Proposal on Using Part of Temporarily Idle Raised Funds (Including Over-raised Funds) for Cash Management", and agreed that the company would use no more than 3.3 billion yuan in temporarily idle raised funds (including over-raised funds) for cash management without affecting the construction of investment projects with raised funds and ensuring the safe use of raised funds. The company's independent directors issued an independent opinion in agreement, the Board of Supervisors issued an opinion in agreement, and the sponsor issued a verification opinion.
The company held the 14th meeting of the 4th board of directors and the 11th meeting of the 4th board of supervisors on February 8, 2023. On February 24, 2023, the company held the first use of idle raised funds for cash in 2023.
At the extraordinary general meeting of shareholders, the above-mentioned meeting reviewed and approved the "Proposal on Using Part of Temporarily Idle Raised Funds (Including Over-raised Funds) for Cash Management" and agreed that the company would not affect the management of raised funds.
On the premise of constructing financial investment projects and ensuring the safe use of raised funds, no more than 2.4 billion yuan of temporarily idle raised funds (including over-raised funds) will be used for cash management. The company's independent directors issued an independent opinion in agreement, the Board of Supervisors issued an opinion in agreement, and the sponsor issued a verification opinion.
- The company held the 19th meeting of the fourth board of directors and the 15th meeting of the fourth board of supervisors on February 2, 2024, and held the first extraordinary shareholders meeting of 2024 on February 20, 2024. The above meeting reviewed and approved the "About the Continuing to Use Part of the Temporarily Idle Company" "Proposal on Cash Management of Raised Funds (including Over-raised Funds)", which agrees that the company will use no more than 2.4 billion yuan of temporarily idle raised funds (including over-raised funds) for cash management without affecting the construction of investment projects with raised funds and ensuring the safe use of raised funds. supervise
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The board of directors issued a consent opinion, and the sponsor issued a verification opinion.
- The company held the fifth meeting of the fifth board of directors and the fifth meeting of the fifth board of supervisors on January 24, 2025, and the second extraordinary shareholders' meeting of 2025 on February 10, 2025. The above meeting reviewed and approved the "About the Use of Proposal on Temporarily Idle Over-raised Funds for Cash Management", agreeing that the company will use no more than 1.90 billion yuan of temporarily idle over-raised funds for cash management without affecting the construction of investment projects with raised funds and ensuring the safe use of raised funds. The board of supervisors issued a concurring opinion, and the sponsor issued a verification opinion.
As of the end of the reporting period, the company used part of the temporarily idle over-raised funds of RMB 1.277 billion for cash management.
The company held the fourth meeting of the fifth board of directors and the fourth meeting of the fifth board of supervisors on December 16, 2024, and held the first extraordinary shareholders' meeting of 2025 on January 2, 2025. The above meeting reviewed and approved the "Proposal on Closing Part of the Investment Projects and Permanently Replenishing the Surplus Raised Funds for Liquidity" and agreed to fund the company's initial public offering of shares. The fund-raising investment project (hereinafter referred to as the "raised investment project") "50,000 tons of erythritol per year and technology center project" was completed, and the remaining raised funds of 352.2712 million yuan (including the contract balance and warranty deposit to be paid, and the interest received or receivable minus handling fees and cash management income, ultimately based on the balance of the special account on the day when the funds are transferred out) will permanently replenish working capital.
Reasons for savings: 1. The company always adheres to the principles of reasonableness, economy and effectiveness during the implementation of fundraising projects, and uses funds in strict accordance with relevant regulations on raised funds management to ensure that the allocation of funds and cost control are optimized while ensuring the quality of project construction. When preparing the project feasibility study report, the company calculated the investment projects with raised funds based on the current small-scale production technology level and process plan. However, during the project construction process, with the accumulation of early production experience, the company's equipment selection, provisioning and production line optimization capabilities have continued to increase. For example, the amount and reasons for the savings in core equipment fermentation tanks have doubled, scale effects have emerged, and unit capacity construction costs have been effectively reduced. At the same time, the company continued to optimize the production process of erythritol. Some of the equipment in the calculations could not fully adapt to the new process requirements, so more efficient equipment was selected, which not only improved production efficiency, but also effectively saved equipment investment. In addition, during the project implementation process, the company strengthened cost control and budget management in each link based on actual needs, rationally dispatched resources, and optimized various construction expenditures, thereby further reducing the overall construction cost of the project. Through these measures, the project not only progressed smoothly, but also generated savings in raised funds. 2. Since the construction of raised investment projects has a certain cycle, in order to improve the efficiency of the use of raised funds, the company will make overall arrangements for fund sources based on actual fund needs and planning during the project implementation process, and use its own funds to pay for some staged fund needs in advance. At the same time, without affecting project construction and the safe use of raised funds, the company rationally used idle raised funds for cash management and obtained a certain investment income. At the same time, the company also generated corresponding deposit interest income during the storage period of the raised funds. 3. The closed fund-raising projects have unpaid contract balances and warranty deposits waiting to be paid. Due to the long payment period of the above-mentioned payments, there is a savings in raised funds.
Unused raised funds As of the end of the reporting period, the unused raised funds (including super-raised funds) and interest totaled RMB 1,278.0937 million. Among them, the company used part of the temporarily idle over-raised funds of 127,700.00 yuan for cash management, and the remaining balance of raised funds of 1.0937 million yuan was deposited in a special account for raised funds.
There are no problems or other situations in the use and disclosure of raised funds during the reporting period.
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problems or other situations
Note 1: The cumulative investment amount as of the end of the period does not include the permanent supplementary working capital of RMB 354,101,427.18 at the completion of the raised investment project. Note 2: The item has been closed.
Note 3: The company used the raised funds to pay a total of 139.0607 million yuan for issuance expenses. As of the end of the period, the cumulative investment amount was 138.4003 million yuan, with 660.4 million yuan remaining unpaid.
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