Beijing Beidou Star Communication Navigation Technology Co., Ltd. (hereinafter referred to as "the Company" or "Beidou Star") held the 25th meeting of the 7th Board of Directors on February 10, 2026, where it reviewed and approved the proposal regarding the delay of certain fundraising projects, the addition of implementation entities, and the adjustment of the internal investment structure. The Company agreed to adjust the timeline for the projects "Development and Industrialization of Beidou/GNSS SoC Chips for Comprehensive PNT Applications" and "Development and Industrialization of High-Precision Beidou/GNSS SoC Chips for Vehicle Safety" to June 30, 2028, while adding Beidou Star as the implementation entity. The internal investment structure for the project "Development and Industrialization of Beidou/GNSS SoC Chips for Comprehensive PNT Applications" will also be adjusted. The relevant matters are announced as follows:
1. Basic Situation of Fundraising
According to the approval issued by the China Securities Regulatory Commission (CSRC) regarding the registration of the specific object issuance of shares by Beijing Beidou Star Communication Navigation Technology Co., Ltd. (Document No. [2023]1075), the Company issued 31,374,501 ordinary shares (A shares) at a price of RMB 30.12 per share on June 26, 2023, raising a total of RMB 944,999,970.12, with a net amount of RMB 931,075,896.25. The funds were fully received by June 30, 2023, and were verified by Dahua Certified Public Accountants (Special General Partnership), which issued verification report No. [2023]000399. The Company has opened a special account for the raised funds and signed a fundraising supervision agreement to manage the funds.
2. Use of Fundraising
On October 23, 2024, the Company held the 10th meeting of the 7th Board of Directors and the 9th meeting of the 7th Supervisory Board, where it reviewed and approved the proposal to change part of the fundraising investment projects. This was subsequently approved by the fifth shareholders' meeting of 2024, agreeing to change part of the funds of RMB 217 million originally allocated for "Research and Development Infrastructure Construction Project" to be used for the "Development and Industrialization of Low-Power Beidou GNSS SoC Chips for IoT Applications." The announcement regarding the change of part of the fundraising investment projects (Announcement No. 2024-089) was published in the Company's designated information disclosure media. As of December 31, 2025 (unaudited), the use of funds raised from the specific object issuance of shares is as follows: