Announcement on Terminating Partial Fundraising Projects and Changing Use of Raised Funds
The Company and all members of the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and are free from any false representations, misleading statements, or material omissions.
Important Notes:
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Content of the partial fundraising project to be terminated: Functional polyester film production line project (including two functional polyester film production lines) within the high-performance polyester film production and supporting facilities project.
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Remaining raised funds: As of June 30, 2026, the balance of raised funds is RMB 14,120.70 million, including RMB 3,120.70 million in the special raised funds account and RMB 11,000.00 million in cash management.
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Plan for the use of remaining raised funds: After terminating the construction of two functional polyester film production lines, the company plans to use RMB 3,810.71 million to pay the remaining balance for the two polyester film production lines as scheduled. RMB 6,387.45 million will be used to repay project bank loans. The remaining RMB 3,922.54 million will be deposited in the special raised funds account and managed in accordance with relevant laws and regulations for raised funds. Meanwhile, the company will actively explore industrialization projects with strong profitability and good future development prospects. After research and decision-making on investment projects, the remaining raised funds will be used for the construction of industrialization projects to further improve the efficiency of raised fund utilization.
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Approval Status: This matter has been reviewed and approved by the Fifth Board of Directors' Twentieth Meeting and is subject to approval by the Company's 2026 Third Extraordinary General Meeting of Shareholders.
Jiangsu Yuxing Thin Film Technology Co., Ltd. (hereinafter referred to as "the Company") held the Twentieth Meeting of the Sixth Board of Directors on July 28, 2026, which reviewed and approved the "Proposal on Terminating Partial Fundraising Projects and Changing the Use of Raised Funds." After careful consideration, the Company plans to terminate the construction of the functional polyester film production line project (including two functional polyester film production lines) within the high-performance polyester film production and supporting facilities project. Subsequently, the company plans to use raised funds to pay the remaining balance for the two polyester film production lines as scheduled, and repay the bank loans for the fundraising projects. The remaining raised funds will be deposited in the special raised funds account for management. The sponsor, Donghai Securities Co., Ltd. (hereinafter referred to as "Donghai Securities"), has issued a letter of consent for the review. This matter is still subject to approval by the Company's 2026 Third Extraordinary General Meeting of Shareholders. The details are as follows:
I. Raised Funds, Fundraising Project Basic Information, and Raised Fund Usage and Balance
1. Basic Information on Raised Funds
As approved by the China Securities Regulatory Commission's "Approval on Registering the Private Offering of Shares by Jiangsu Yuxing Thin Film Technology Co., Ltd." (Zheng Jian Xu Ke [2023] No. 2431), the Company issued 86,626,740 ordinary shares at a price of RMB 8.01 per share, raising a total of RMB 69,388.02 million. After deducting issuance expenses of RMB 1,133.53 million, the net amount of raised funds is RMB 68,254.49 million.
Donghai Securities, as the sponsor (lead underwriter) for this offering, transferred the raised funds, after deducting underwriting and sponsorship fees, to the Company's designated account on January 5, 2024. Xinyonghe Certified Public Accountants (Special General Partnership) (hereinafter referred to as "Xinyonghe") audited the receipt of the raised funds for this offering as of January 5, 2024, and issued the "Capital Verification Report on the Paid-in Capital of Jiangsu Yuxing Thin Film Technology Co., Ltd. as of January 5, 2024" (XYZH/2023NJAA3B0168).