Securities Code: 001396
Securities Abbreviation: Yufan Technology
Announcement No.: 2026-032
Shanghai Yufan Environmental Technology Co., Ltd.
Announcement on Increasing Implementation Entities and Locations for Partial Fundraising Projects and Adjusting Internal Investment Structure
The Company and the Board of Directors guarantee that the information disclosed is true, accurate, and complete, and contains no false or misleading statements or material omissions.
Special Notice:
Shanghai Yufan Environmental Technology Co., Ltd. (hereinafter referred to as "Yufan Technology" or "the Company") plans to add Shanghai Yufan Environmental Construction Co., Ltd. and Guangzhou Yufan Pipeline Inspection Co., Ltd., both wholly-owned subsidiaries, as implementation entities for the "Urban Pipeline Operation and Maintenance Service Capability Enhancement and Expansion Project." Corresponding implementation locations will also be added, and the internal investment structure will be adjusted.
This adjustment only involves changes to the implementation entities of the fundraising projects among the listed company and its wholly-owned subsidiaries, the addition of implementation locations, and the adjustment of the internal investment structure. It does not change the implementation method of the fundraising projects, nor does it involve any other changes to the use of raised funds.
The Company held the 16th meeting of the Second Board of Directors on August 5, 2026, and approved the "Proposal on Increasing Implementation Entities and Locations for Partial Fundraising Projects and Adjusting Internal Investment Structure." The sponsor has issued a clear opinion. This matter falls within the scope of the Board of Directors' approval authority and does not require submission to the Company's shareholders' meeting for deliberation. The relevant matters are hereby announced as follows:
I. Basic Situation of Raised Funds
According to the "Approval on the Registration of the Initial Public Offering of Shares by Shanghai Yufan Environmental Technology Co., Ltd." (Zhengjian Xuke [2025] No. 2249) issued by the China Securities Regulatory Commission, the Company issued 26.73 million shares of RMB ordinary shares (A shares) to the public for the first time, with an issue price of RMB 22.29 per share. The total amount of raised funds was RMB 595.8117 million. After deducting issuance expenses of RMB 80.4349 million (excluding VAT), the net amount of raised funds was RMB 515.3768 million.
As of December 25, 2025, all the aforementioned raised funds have been received. Rongcheng Certified Public Accountants (Special General Partnership) audited the receipt of the raised funds for this issuance and issued an auditor's report (Rongcheng Audit [2025] 214Z0005). After the raised funds were received, the Company managed them in special accounts in accordance with relevant regulations.
II. Situation of Increasing Implementation Entities and Locations for Fundraising Projects and Adjusting Internal Investment Structure
(I) Overview and Reasons for Increasing Implementation Entities and Locations for Fundraising Projects
The project involved in increasing implementation entities and locations is the "Urban Pipeline Operation and Maintenance Service Capability Enhancement and Expansion Project." The original implementation entity for this project was the listed company. The project was originally planned to be implemented in 16 cities, including: enhancement of existing urban pipeline operation and maintenance services in eight major cities: Nanjing, Shanghai, Xiamen, Guangzhou, Chongqing, Hefei, Nanchang, and Hangzhou; and expansion of urban pipeline operation and maintenance services in eight major cities: Sanya, Nanning, Changsha, Chengdu, Wuhan, Zhengzhou, Qingdao, and Xi'an.