Guoguang Electric Appliances Co., Ltd. Announcement on Continued Use of Partially Idle Raised Funds to Temporarily Supplement Working Capital
Stock Code: 002045 Stock Abbreviation: Guoguang Electric Announcement No.: 2025-87
The Company and all members of its board of directors guarantee the truthfulness, accuracy, and completeness of the information disclosed in this announcement, and that there are no false representations, misleading statements, or material omissions.
Guoguang Electric Appliances Co., Ltd. (hereinafter referred to as the "Company" or "Guoguang Electric") held the 23rd meeting of the 11th Board of Directors on December 22, 2025, and deliberated and passed the "Proposal on Continued Use of Partially Idle Raised Funds to Temporarily Supplement Working Capital." In accordance with the relevant regulations of the Shenzhen Stock Exchange's Self-Regulatory Guidelines for Main Board Listed Companies - Standardized Operation, and combined with the Company's actual operating situation, with the principle of maximizing shareholder interests and to improve the efficiency of raised fund utilization and reduce the Company's financial expenses, the Company agreed to continue to use idle raised funds not exceeding RMB 32,000,000.00 to temporarily supplement the working capital of the Company and its subsidiaries. The usage period shall not exceed 12 months from the date of deliberation and approval by the Board of Directors, and the funds shall be used only for production and operation related to the main business of the Company and its subsidiaries. The relevant situation is hereby announced as follows:
I. Basic Situation of Raised Funds
With the approval of the China Securities Regulatory Commission's "Approval on the Registration of Guoguang Electric Appliances Co., Ltd.'s Private Offering of A Shares" (Zhengjian Permit (2023) No. 1983), the Company was approved to issue 99,718,919 A shares at a par value of RMB 1.00 per share. The offering price was RMB 13.88 per share, with a total raised fund of RMB 1,384,098,595.72. After deducting issuance-related expenses of RMB 8,723,558.20 (excluding tax), the net raised fund amounted to RMB 1,375,375,037.52. The remaining balance of RMB 1,378,598,595.72 after deducting underwriting fees and sponsorship fees of RMB 5,500,000.00 has been transferred to the Company's designated account. The raised funds were all received on December 14, 2023, and the Company manages the raised funds through a special account. Tianheng Certified Public Accountants (Special General Partnership) audited the receipt of the raised funds and issued the "Guoguang Electric Appliances Co., Ltd. Capital Verification Report" with the serial number Tianheng Yan Zi (2023) No. 00132. The Company has implemented special account management for the raised funds, and the Board of Directors has authorized the management to sign tripartite and quadripartite custody agreements with the sponsor and the banks where the raised funds are deposited.
II. Use of Raised Funds