At a press conference on May 22, Yan Bojin, Chief Risk Officer and Director of the Issuance Supervision Department at the China Securities Regulatory Commission (CSRC), emphasized the Commission's dual approach to supporting technological enterprise development while maintaining rigorous oversight of fundraising activities. China's capital market imposes stringent supervision, disclosure requirements, and usage guidelines on funds raised by listed companies for initial public offerings (IPOs) and refinancing. Recently, the CSRC revised and issued updated fundraising supervision regulations, emphasizing that the funds raised must be exclusively allocated to specified purposes, centered on the company's core business, supportive of the real economy, and subject to rigorous monitoring of any changes in fund utilization. These measures aim to ensure the safety and regulatory compliance of listed companies' fundraising activities.