Jiangsu Pacific Precision Forging Technology Co., Ltd. (hereinafter referred to as "the Company" or "Precision Forging Technology") held the 18th meeting of the 5th Board of Directors on May 28, 2026, where it reviewed and approved the proposal to reduce the implementing entities and locations for the fundraising project of issuing convertible bonds to unspecified objects for the "New Energy Vehicle Electric Drive Component Industrialization Project." This proposal does not require submission to the shareholders' meeting for approval. The specific circumstances are announced as follows:
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Basic Situation of Fundraising
Approved by the China Securities Regulatory Commission with document [2023] No. 45 and agreed by the Shenzhen Stock Exchange, the Company issued 9.8 million convertible bonds at a price of RMB 100 per bond on February 15, 2023, with a total issuance amount of RMB 980 million. As of February 21, 2023, the Company raised a total of RMB 980 million, with a net amount of RMB 968.1274 million after deducting issuance costs of RMB 11.8726 million (excluding tax). The net amount has been verified by Deloitte Touche Tohmatsu CPA Ltd. in the verification report No. 110ZC00070 dated February 22, 2023. The Company manages the raised funds in a dedicated account. -
Progress of Fundraising Investment Projects
As of March 31, 2026, the total amount invested from the funds raised through the issuance of convertible bonds in 2023 has reached RMB 830.6796 million. The usage progress of the fundraising investment projects is as follows:
| Project Name | Total Committed Investment | Adjusted Investment | Amount Invested as of March 31, 2026 | Investment Progress |
|---|---|---|---|---|
| New Energy Vehicle Electric Drive Component Industrialization Project | 74,000.00 | 74,000.00 | 60,232.49 | 81.40% |
| Repayment of Bank Loans | 24,000.00 | 22,812.74 | 22,835.47 | 100.10% |
| Total | 98,000.00 | 96,812.74 | 83,067.96 | 85.80% |
- Relevant Circumstances of Reducing Implementing Entities and Locations
In light of changes in the global market competition and supply chain patterns, the Company convened the 14th meeting of the 5th Board of Directors on October 21, 2025, to approve the proposal to add PACIFIC PRECISION FORGING TECHNOLOGY (THAILAND) CO., LTD. (hereinafter referred to as "the Thailand Company") as an implementing entity for the fundraising project "New Energy Vehicle Electric Drive Component Industrialization Project," and to add the location "No. 88/88 Moo 1, Nikhom Phatthana Sub-district, Nikhom Phatthana District, Rayong 21180" in addition to the original location. This was to enhance the supporting production capacity for new energy vehicles and engineering machinery gear shafts to meet global market competition needs.