[Chart: CLOU Electronics Logo]
Stock Code: 002121 Stock Abbreviation: CLOU Electronics
Shenzhen CLOU Electronics Co., Ltd.
(A101, Building 5, CLOU Smart Energy Industrial Park, Yutang Community, Yutang Street, Guangming District, Shenzhen)
2026 Feasibility Analysis Report on the Issuance of A-Shares to Specific Targets
July 2026
Shenzhen CLOU Electronics Co., Ltd. (hereinafter referred to as the "Company") was listed on the Shenzhen Stock Exchange on March 6, 2007. To meet the capital requirements for business development, enhance capital strength, and improve profitability, the Company intends to issue A-shares to specific targets in accordance with the Company Law, the Securities Law, the Administrative Measures for Issuance of Securities by Listed Companies issued by the CSRC, and other relevant laws, regulations, and the Articles of Association. The number of shares to be issued shall be the total amount of raised funds divided by the issue price, and shall not exceed 30% of the Company's total share capital prior to the issuance. Based on the total share capital as of June 30, 2026, the number of shares to be issued to specific targets shall not exceed 501,765,182 shares (inclusive). The total amount of funds to be raised shall not exceed RMB 2,500.00 million (inclusive). After deducting issuance expenses, the net proceeds will be used to repay interest-bearing debts and supplement working capital.
(Unless otherwise specified in this report, relevant terms have the same meanings as defined in the "Shenzhen CLOU Electronics Co., Ltd. 2026 Plan for Issuance of A-Shares to Specific Targets")
I. Plan for the Use of Proceeds from the Issuance of Shares to Specific Targets
The total amount of funds to be raised by the Company through this issuance to specific targets shall not exceed RMB 2,500.00 million (inclusive). After deducting issuance expenses, the net proceeds are intended to be used entirely for the repayment of interest-bearing debts and the supplementation of working capital.
If the timing of the receipt of the proceeds does not align with the Company's actual schedule for repaying bank loans and other interest-bearing debts, the Company will use its own funds to make repayments first, and will replace these funds or repay the relevant borrowings once the proceeds from this issuance are received.
II. Background and Purpose of the Issuance of Shares to Specific Targets
(I) Background of the Issuance of Shares to Specific Targets
- The "Dual Carbon" strategy drives rapid industry expansion, and the Company enters a window for business growth.