Zhenjiang Dongfang Electric Heating Technology Co., Ltd.
Securities Code: 300217
Securities Abbreviation: Dongfang Electric Heating
Announcement No.: 2026-007
Zhenjiang Dongfang Electric Heating Technology Co., Ltd. (hereinafter referred to as "Dongfang Electric Heating" or "the Company") guarantees that the content of this announcement is true, accurate, and complete, with no false records, misleading statements, or significant omissions.
On March 31, 2026, the Company held the 12th meeting of the 6th Board of Directors, which reviewed and approved the proposal on the completion of certain fundraising projects and the permanent allocation of surplus funds to working capital. The Board agreed to permanently allocate the surplus funds of 6.7214 million yuan (including financial management and interest income, with the specific amount based on the bank's interest balance on the day of fund transfer) from the fundraising project "Acquisition of 51% Equity in Dongfang Shanyuan" to the working capital of the project implementation entity, Dongfang Electric Heating. The specific situation is as follows:
1. Fundraising and Usage in 2020
(1) Basic Situation of Fundraising through Private Placement in 2020
With the approval from the China Securities Regulatory Commission (CSRC) regarding the registration of the private placement of shares by Zhenjiang Dongfang Electric Heating Technology Co., Ltd. (CSRC Permit [2021] No. 2295), the Company issued 167,722,975 ordinary shares (A shares) at a price of 3.63 yuan per share, raising a total of 608,834,399.25 yuan. After deducting issuance-related expenses of 4,594,164.13 yuan, the actual net amount raised was 604,240,235.12 yuan. The above fundraising amount has been verified by Tianheng Accounting Firm (Special General Partnership), which issued Verification Report No. (2021) 00126. The Company has stored the raised funds in a special account and signed a tripartite supervision agreement for the raised funds.
(2) Usage and Status of Fundraising in 2020
| No. | Project Name | Project Investment Amount | Total Commitment of Raised Funds | Date of Reaching Usable Status | Cumulative Investment Amount (as of February 28, 2026) |
|---|---|---|---|---|---|
| 1 | Acquisition of 51% Equity in Dongfang Shanyuan | 63,000,000.00 | 63,000,000.00 | Not Applicable | 56,700,000.00 |
| 2 | Annual Production of 60 Million PTC Electric Heaters | 292,825,400.00 | 263,705,400.00 | June 30, 2025 | 163,143,127.88 |
| 3 | Annual Production of 3.5 Million Sets of PTC Electric Heaters for New Energy Vehicles | 202,069,000.00 | 100,129,000.00 | Phase I: June 30, 2023; Phase II: November 30, 2024 | 95,790,919.78 |
| 4 | Supplementing Working Capital | 182,000,000.00 | 179,346,992.85 | Not Applicable | 179,346,492.85 |
| Total | 739,894,400.00 | 606,181,392.85 | 494,980,540.51 |