1. Basic Information on Raised Funds
(1) Actual Amount Raised and Timing of Funds Arrival
On April 27, 2021, Jiangsu Boyun Plastic Co., Ltd. (hereinafter referred to as "Jiangsu Boyun" or "the Company") publicly issued 14,566,667 shares of RMB ordinary stock at an issue price of RMB 55.88 per share, approved by the China Securities Regulatory Commission. The total amount raised was RMB 813.99 million, with net proceeds of RMB 720.84 million after deducting underwriting fees and other issuance costs.
On May 26, 2021, the balance of RMB 742.90 million, after deducting underwriting fees, was transferred to the Company’s accounts as follows:
| Account Bank | Account Number | Amount (RMB 10,000) |
|---|---|---|
| Bank of Communications Zhangjiagang Jin Feng Branch | 387670667013000084532 | 31,000.00 |
| Zhangjiagang Rural Commercial Bank Jin Feng Branch | 8008288802911 | 15,000.00 |
| Shanghai Bank Zhangjiagang Branch | 03004542637 | 28,289.87 |
The arrival of the above-mentioned raised funds has been verified by Tianheng Accounting Firm (Special General Partnership), which issued Verification Report No. Tianheng Yan Zi (2021) 00058.
(2) Usage and Balance of Raised Funds
As of December 31, 2025, the Company had cumulatively used RMB 596.77 million of the raised funds, with RMB 27.04 million directly invested in fundraising projects during the reporting period. The remaining funds from completed projects were permanently supplemented to working capital, totaling RMB 60.74 million. The usage and balance of the raised funds are as follows:
| Item | Amount (RMB 10,000) |
|---|---|
| Total Amount Raised | 81,398.53 |
| Less: Issuance Costs | 9,314.34 |
| Net Amount Raised | 72,084.19 |
| Less: Direct Investment in Fundraising Projects (2021) | 33.87 |
| Less: Replacement Amount for Fundraising Projects (2021) | 25,950.84 |
| Less: Repayment of Bank Loans (2021) | 77,047.74 |
| Plus: Interest Income (Net of Fees) (2021) | 53.79 |
| Plus: Unpaid Stamp Duty on Raised Funds | 18.03 |
| Balance of Special Account as of December 31, 2021 | 61,822.29 |
| Less: Direct Investment in Fundraising Projects (2022) | 112,248.10 |
| Less: Repayment of Bank Loans (2022) | 77,397.78 |
| Less: Stamp Duty on Raised Funds | 18.03 |
| Plus: Interest Income (Net of Fees) (2022) | 1,702.70 |
| Balance of Special Account as of December 31, 2022 | 44,542.37 |
| Less: Direct Investment in Fundraising Projects (2023) | 137,025.20 |
| Plus: Interest Income (Net of Fees) (2023) | 1,005.31 |
| Balance of Special Account as of December 31, 2023 | 31,845.16 |
| Less: Direct Investment in Fundraising Projects (2024) | 39,016.05 |
| Less: Repurchase of Shares (2024) | 39,960.50 |
| Plus: Interest Income (Net of Fees) (2024) | 840.38 |
| Balance of Special Account as of December 31, 2024 | 24,787.88 |
| Less: Direct Investment in Fundraising Projects (2025) | 27,043.50 |
| Plus: Interest Income (Net of Fees) (2025) | 3,305.20 |
| Less: Remaining Funds from Completed Projects | 60,739.20 |
| Balance of Special Account as of December 31, 2025 | 16,340.13 |
| Among them: Balance of Bank Wealth Management Products | 7,000.00 |
2. Storage and Management of Raised Funds
(1) Management of Raised Funds
To standardize the management and use of raised funds and protect the interests of investors, the Company has formulated the "Management Measures for Raised Funds of Jiangsu Boyun Plastic Co., Ltd." The Company stores raised funds in special accounts and strictly follows approval procedures for usage.