Summary by Moomoo AI
Great Wall Motor issued an announcement on March 28, 2024 detailing the storage and actual use of fundraising funds as of December 31, 2023. According to the announcement, Great Wall Auto publicly issued A-share convertible corporate bonds through the Shanghai Stock Exchange in June 2021, with a total fundraising amount of RMB35 billion. After deducting related expenses, the actual fundraising received was RMB34.9 billion. The company has exhausted the funds raised for its intended purpose and spent approximately RMB 14.06 billion in 2023. Great Wall Motor also noted that the management and use of the funds raised are in strict compliance with relevant laws and regulations and have been verified by the accounting firm of Delkin. In addition, the company has cash management for temporarily idle fundraisers and does not use overfunds. The sponsor, Guotai Junan Securities Co., Ltd. gave a positive opinion on the use of funds raised by Great Wall Motor and considered that the company's collection and use of fundraising funds complied with the relevant requirements.