HICONICS
2026 Annual Report on the Feasibility Analysis of the Use of Raised Funds for Issuing A Shares to Specific Objects (Revised Draft)
Securities Code: 300048 Securities Abbreviation: Hiconics
Beijing Hiconics Technology Co., Ltd.
(Registered Address: 1st Floor, Building 2, No. 3, Boxing Second Road, Beijing Economic-Technological Development Area, Beijing)
2026
Feasibility Analysis Report on the Use of Raised Funds for Issuing A Shares to Specific Objects
(Revised Draft)
August 2026
1
I. Plan for the Use of Raised Funds
The total amount of funds to be raised from this issuance of shares to specific objects (including issuance expenses) shall not exceed 165,158.16 million yuan. After deducting issuance expenses, the net amount of raised funds will be fully invested in the following projects:
Unit: Million Yuan
No.
Project Name
Total Project Investment
Raised Funds to be Invested
R&D and Industrialization Project for High-Voltage Frequency Converters
43,850.67
2
R&D and Industrialization Project for Photovoltaic Grid-Connected Inverters
43,696.32
3
R&D and Industrialization Project for Household Energy Storage Systems
29,230.48
4
Distributed Photovoltaic Benchmark Power Station Construction and R&D Project
18,380.69
5
Supplementing Working Capital
30,000.00
Total
165,158.16
Within the scope of the above-mentioned investment projects funded by raised capital, the company may make appropriate adjustments to the order and specific amounts of investment in the corresponding projects based on the project progress and funding requirements. Before the raised funds are in place, the company may use its own funds to make advance investments based on the actual situation of the investment projects funded by raised capital, and will replace them according to relevant regulations after the raised funds are in place. If the actual net amount of raised funds after deducting issuance expenses is less than the total amount of raised funds intended for investment, the company will adjust and finally determine the specific investment amount for each project based on its importance and urgency, and the remaining amount will be resolved by the company using its own funds.
II. Specific Details and Feasibility Analysis of the Investment Projects Funded by Raised Capital
(I) R&D and Industrialization Project for High-Voltage Frequency Converters
- Project Overview
This project will be implemented by Beijing Hiconics Variable Frequency Technology Co., Ltd. and will be located at No. 3, Boxing Second Road, Beijing Economic-Technological Development Area. The construction period is 24 months, with a total investment budget of approximately 43,850.67 million yuan, which will be fully funded by the raised capital. The company ranks among the top domestic players in the field of high-voltage frequency converters, continuously leading the domestic substitution of high-voltage frequency converters in fields such as nuclear power. This project funded by raised capital aims to upgrade the automation and intelligence of the high-voltage frequency converter production line, by eliminating outdated and inefficient equipment, introducing automated assembly and intelligent testing systems, and building an intelligent manufacturing production line for high-voltage frequency converters to enhance the company's product supply capacity. At the same time, it will continue to strengthen cutting-edge technology reserves.