Hubei Ping An Electric Technology Co., Ltd. (hereinafter referred to as "the Company" or "Ping An Electric") held the tenth meeting of the third board of directors on January 20, 2026, where it reviewed and approved the proposal on adjusting certain fundraising investment projects. The board agreed to add its wholly-owned subsidiary, Hubei Ping An Electric Materials Co., Ltd. (hereinafter referred to as "Ping An Materials"), as one of the implementation entities for the "Hubei Ping An Electric Technology Co., Ltd. Tongcheng Production Base Construction Project" under the initial public offering fundraising investment projects (hereinafter referred to as "fundraising projects"). Additionally, adjustments were made to the use and investment structure of the "New Materials R&D Center Project." This proposal is subject to approval by the company's shareholders' meeting. The specific details are announced as follows:
I. Basic Situation of Fundraising
According to the China Securities Regulatory Commission's approval (Zheng Jian Xu Ke [2023] No. 2121), the company publicly issued 46,380,000 shares of RMB ordinary shares (A shares) at an issue price of RMB 17.39 per share, raising a total of RMB 806,548,200. After deducting non-taxable issuance expenses of RMB 79,003,200, the net amount of fundraising is RMB 727,545,000. The above fundraising has been verified by Tianjian Certified Public Accountants (Special General Partnership), which issued a "Verification Report" (Tianjian Yan [2024] No. 3-6). After the funds were received, they were all deposited into a special account for fundraising approved by the company's board of directors. The company and relevant subsidiaries have signed a fundraising special account storage supervision agreement with the sponsor and the commercial bank where the fundraising is stored.
II. Basic Situation of Fundraising Projects
According to the "Prospectus for the Initial Public Offering and Listing on the Main Board of Hubei Ping An Electric Technology Co., Ltd." (hereinafter referred to as "the Prospectus") and the announcements regarding the adjustment of fundraising project funds (Announcement No. 2024-003) and the delay and change of certain fundraising project fund uses (Announcement No. 2024-051), the company's fundraising project usage plan is as follows:
| No. | Project Name | Total Investment Amount (10,000 RMB) | Proposed Fundraising Amount (10,000 RMB) |
|---|---|---|---|
| 1 | Ping An Electric Wuhan Production Base Project | 12,291.54 | 12,291.54 |
| 2 | Hubei Ping An Electric Technology Co., Ltd. Tongcheng Production Base Project | 34,574.87 | 34,574.87 |
| 3 | New Materials R&D Center Project | 8,174.03 | 7,356.63 |
| 4 | Production Base Intelligent Upgrade Project | 5,016.90 | 5,016.90 |
| 5 | Supplement Working Capital | 13,514.57 | 13,514.57 |
| Total | 73,571.91 | 72,754.50 |