Hangzhou Yiwan Yichuang Technology Co., Ltd. (hereinafter referred to as "the Company") held the twelfth meeting of the fourth board of directors on March 30, 2026, to review and approve the proposal on the use of idle raised funds and idle own funds for cash management. The Company intends to use a total amount not exceeding RMB 5 billion (including principal) of idle raised funds and a total amount not exceeding RMB 15 billion (including principal) of idle own funds for cash management, ensuring the safety and liquidity of the funds while achieving capital preservation and appreciation. The above limits are valid for 12 months from the date of approval by the Company's 2025 annual shareholders' meeting, and the funds can be used on a rolling basis within the aforementioned limits and decision validity period. Idle raised funds will be promptly returned to the special account for raised funds upon maturity of cash management.
1. Basic Situation of Raised Funds
According to the approval issued by the China Securities Regulatory Commission on the registration of stock issuance to specific objects by Hangzhou Yiwan Yichuang Technology Co., Ltd. (Zheng Jian Xu Ke [2021] No. 1350), and with the consent of the Shenzhen Stock Exchange, Hangzhou Yiwan Yichuang Technology Co., Ltd. issued 22,310,037 shares at a price of RMB 40.13 per share, raising a total of RMB 895,301,784.81. After deducting issuance-related expenses (excluding VAT) of RMB 7,160,232.71, the actual net raised funds amounted to RMB 888,141,552.10. Zhonghui Certified Public Accountants (Special General Partnership) verified the arrival of the raised funds in the Company's account and issued the "Verification Report of Hangzhou Yiwan Yichuang Technology Co., Ltd." (Zhonghui Verification [2021] No. 6370) on July 29, 2021. The Company has implemented a special account storage system for the raised funds and established relevant special accounts for raised funds. After the raised funds arrived, they were all deposited into the special account approved by the Company's board of directors. The Company signed a "Tripartite Supervision Agreement for Special Accounts of Raised Funds" with the sponsor and the commercial bank holding the raised funds. The raised funds, after deducting issuance costs, will be used for the following projects:
| Project Name | Total Investment (10,000 RMB) | Amount of Raised Funds to be Invested (10,000 RMB) |
|---|---|---|
| Content E-commerce Project | 427,565.1 | 427,565.1 |
| Warehousing and Logistics Project | 93,071.5 | 93,071.5 |
| R&D Center and Information Construction Project | 162,004.2 | 121,665.24 |
| Supplementing Working Capital | 253,000.0 | 253,000.0 |
| Total | 935,640.8 | 895,301.8 |
2. Reasons for Temporary Idleness of Raised Funds
Due to the construction and investment cycle of the raised funds investment projects and according to the usage plan of the raised funds, some of the raised funds are temporarily idle. To make reasonable use of the raised funds and improve their efficiency, the Company will manage the temporarily idle raised funds for cash management, investing in high-safety and high-liquidity investment products without affecting the normal progress of the raised funds investment plan.
3. Overview of Cash Management
(1) Purpose of Cash Management
To improve the efficiency of raised funds usage and reasonably utilize temporarily idle raised funds and own funds, the Company intends to manage these funds for cash management without affecting the construction of raised funds investment projects and normal operations, thereby better preserving and increasing the value of the Company's funds and safeguarding shareholders' interests.