Moorthreads replied "Idle fund raising cash management": will not affect the implementation of fund raising projects, the actual cash management amount will be significantly less than the limit.

Regarding the announcement last night about using a portion of the unused raised funds of no more than 7.5 billion RMB for cash management by Moer Threads, the relevant person in charge responded by saying: The company had previously disclosed the project plan for the raised funds, with the 75 billion RMB raised funds designated for a phased, clear research and development, and technical upgrade plan. The company will strictly adhere to the established raised investment project plan. "The 7.5 billion RMB under review is the upper limit for cash management, not the actual amount of cash management. The actual cash management amount will be significantly less than the upper limit. As the raised investment projects progress gradually and the amount of self-funded funds invested in the raised projects is replaced, the idle fund size will decrease accordingly, and the cash management limit will also dynamically decrease." The person in charge stated that the company will continue to increase research and development investment to accelerate product iteration, overcome core technological barriers, and build an independent and controllable technology and product system. The cash management will not affect the normal implementation of the raised investment projects and the normal development of the company's main business.