Special Report on the Storage and Use of Raised Funds for 2025
The company and all members of the board of directors guarantee that the content of the information disclosure is true, accurate, and complete, with no false records, misleading statements, or significant omissions. Shenzhen Zhongtian Decoration Co., Ltd. (hereinafter referred to as "the Company") reports on the storage and usage of raised funds for 2025 in accordance with the "Regulations on the Supervision of Raised Funds by Listed Companies" and the "Self-Regulatory Guidelines for Listed Companies on the Shenzhen Stock Exchange No. 1 - Standardized Operations of Main Board Listed Companies."
1. Basic Situation of Raised Funds
The Company has fully utilized the funds raised from the public issuance of convertible corporate bonds by 2024, and there are no usage situations for 2025. The raised funds disclosed in this report refer to the funds from the initial public offering (IPO) of shares.
(1) Actual Amount of Raised Funds and Fund Arrival Situation
According to the approval document [2020] No. 793 issued by the China Securities Regulatory Commission (CSRC) on April 24, 2020, which approved the initial public offering of shares by Shenzhen Zhongtian Decoration Co., Ltd., the Company publicly issued 37,850,000 A shares at an issue price of RMB 24.52 per share, raising a total of RMB 928,082,000.00. The total issuance and listing expenses amounted to RMB 146,276,225.98 (excluding VAT), of which the capitalized issuance and listing expenses to be borne were RMB 139,095,000.03 (excluding VAT). After deducting the issuance and listing expenses, the net amount of raised funds was RMB 781,805,774.02. The above raised funds have been verified by Ernst & Young Huaming LLP, which issued verification report No. 61266367_A01.
(2) Amount of Raised Funds Used and Current Balance
As of December 31, 2025, the Company had cumulatively used RMB 644,395,500.00 of the raised funds, with the securities code: 002989 and the securities abbreviation: Zhongtian Decoration. The announcement number is 2026-017, bond code: 127055, bond abbreviation: Decoration Convertible Bond. In 2025, RMB 711,700.00 of raised funds were used. As of December 31, 2025, the balance of raised funds was RMB 172,846,500.00, of which the balance in the raised funds storage account was RMB 7,345,800.00 (including the accumulated bank deposit interest after deducting bank fees and the balance of financial management account interest after deducting fees), cash management of raised funds was RMB 115,040,100.00, and temporarily supplemented working capital was RMB 50,460,600.00.
2. Storage and Management of Raised Funds
(1) Management of Raised Funds
To standardize the management of raised funds and protect the rights and interests of small and medium investors, the Company stores and uses raised funds in accordance with the "Regulations on the Supervision of Raised Funds by Listed Companies," "Stock Listing Rules of the Shenzhen Stock Exchange," and "Self-Regulatory Guidelines for Listed Companies on the Shenzhen Stock Exchange No. 1 - Standardized Operations of Main Board Listed Companies," as well as the relevant provisions of the Company's "Management System for Raised Funds."
(2) Special Account Storage Situation of Raised Funds
The Company has signed a "Tripartite Supervision Agreement for Raised Funds" with the sponsor (lead underwriter) CITIC Securities Co., Ltd. and the banks where the special accounts for raised funds are opened: China Construction Bank Shenzhen Branch Luohu Sub-branch, Ningbo Bank Shenzhen Branch, and China Merchants Bank Shenzhen Chegongmiao Sub-branch. A total of three special accounts for raised funds have been established. The Company strictly stores, uses, and manages the raised funds in accordance with the "Tripartite Supervision Agreement for Raised Funds" and relevant laws and regulations, exercising corresponding rights and fulfilling related obligations without any violations. As of December 31, 2025, the storage situation of the special account for the raised funds from the initial public offering of shares is as follows: