Yangzhou Yangjie Electronic Technology Co., Ltd. Announcement on Changes to Some Raised Fund Investment Projects
The company and its board of directors guarantee that the information disclosed is true, accurate, and complete, and contains no false records, misleading statements, or significant omissions.
Yangzhou Yangjie Electronic Technology Co., Ltd. (hereinafter referred to as the "Company") held the 28th meeting of the Fifth Board of Directors on June 15, 2026, and approved the "Proposal on Changes to Some Raised Fund Investment Projects." Given that the Company's Vietnam factory phase I is at full capacity, and the overseas R&D center and channels have been established, to effectively improve the utilization efficiency of raised funds, and comprehensively consider changes in internal and external situations, market conditions, and the Company's actual operating needs, it is agreed to terminate the raised fund investment projects from the Company's 2023 global depositary receipt issuance: "Development of Power Component Business, including the construction of small signal products, silicon-based and silicon carbide SBD, MOSFET, and other product packaging" and "Overseas R&D Center and Global Sales and After-Sales Service Network Construction." The remaining raised funds will be used for the Company's ongoing investment projects "Automotive-Grade Power Semiconductor Module Packaging Project" and "AI Infrastructure Power Component Production Line Technical Upgrade Project." As of May 31, 2026, the raised funds to be reallocated amounted to US$124.5182 million (including interest and wealth management income; the exchange rate of USD to RMB is calculated at 6.8176, equivalent to RMB 848.9153 million; the specific amount is subject to the balance of funds in the project special account at the time of actual transfer).
In accordance with the "Supervision Rules for Raised Funds of Listed Companies," "Shenzhen Stock Exchange GEM Stock Listing Rules," "Shenzhen Stock Exchange Listed Company Self-Regulatory Supervision Guidelines No. 2 - Standardized Operation of GEM Listed Companies," and other relevant laws and regulations, this matter does not constitute a related party transaction. This matter still needs to be submitted for review by the Company's shareholders' meeting.
I. Overview of Changes to Raised Fund Investment Projects
(I) Basic Situation of Raised Funds
According to the "Approval of the China Securities Regulatory Commission on Yangzhou Yangjie Electronic Technology Co., Ltd.'s Initial Public Offering of Global Depositary Receipts and Listing on the SIX Swiss Exchange" (CSRC License [2023] No. 606), the Company was approved to issue global depositary receipts (hereinafter referred to as "GDRs") and list on the SIX Swiss Exchange. This issuance involved 14,339,500 GDRs, corresponding to 28,679,000 underlying A shares. Each GDR was issued at US$15.00, raising a total of US$215.0925 million. After deducting underwriting fees of US$116.15 million, the raised funds amounted to US$213.9310 million, which was remitted to the Company's raised fund account by the lead underwriter HUATAI FINANCIAL HOLDINGS (HONG KONG) LIMITED on April 19, 2023. After further deducting additional external expenses directly related to the issuance of equity securities, such as listing fees, prospectus printing fees, audit fees, legal fees, and appraisal fees, totaling US$181.67 million, the net amount of raised funds for the Company was US$212.1143 million. The above situation of raised funds being in place has been verified by Tianjian Certified Public Accountants (Special General Partnership), who issued the "Capital Verification Report" (Tianjian Verification [2024] No. 45).