Zhejiang Mining Heavy Industry Co., Ltd. (hereinafter referred to as "the Company") held the sixth meeting of the fifth board of directors on March 30, 2026, and approved the proposal on the re-evaluation and extension of fundraising investment projects. Without changing the implementation entity, purpose, and scale of the fundraising investment projects, the Company decided to adjust the timeline for the projects to reach the predetermined usable state based on the current implementation progress and actual situation after careful study. The relevant information is announced as follows:
I. Basic Information on Fundraising
Approved by the China Securities Regulatory Commission (CSRC) document [2023] No. 251 and agreed by the Shenzhen Stock Exchange, the Company is authorized to issue 3,200,000 convertible corporate bonds, each with a face value of 100 RMB, raising a total of 320 million RMB. After deducting underwriting and sponsorship fees of 6.6038 million RMB (excluding VAT), the net amount raised is 313.3962 million RMB, which has been deposited into the Company's fundraising supervision account by the sponsor on March 15, 2023. After deducting additional external costs directly related to the issuance of equity securities, including legal fees, audit and verification fees, credit rating fees, information disclosure, and issuance procedures amounting to 1.912 million RMB, the net amount of the fundraising is 311.4842 million RMB. The above fundraising status has been verified by Zhonghui Certified Public Accountants (Special General Partnership), which issued verification report No. [2023] 1458. The Company has stored the fundraising in a dedicated account and signed a tripartite supervision agreement with the bank and the sponsor.
II. Status of Fundraising Investment Projects and Fund Usage
As of December 31, 2026, the status of the fundraising investment projects and the usage of funds is as follows:
| No. | Fundraising Investment Project | Total Commitment Amount | Cumulative Investment Amount | Investment Progress |
|---|---|---|---|---|
| 1 | Construction of Demonstration Base for Recycling of Waste New Energy Battery Equipment | 25,000.00 | 3,560.35 | 14.24% |
| 2 | Construction of Production Base for Recycling Equipment of Construction Waste (Phase I) | 7,000.00 | 1,932.71 | 27.61% |
| Total | 32,000.00 | 5,493.06 |
III. Status of Dedicated Fund Storage
As of December 31, 2025, the balance of the dedicated fundraising account is as follows:
| Bank Name | Account Number | Account Type | Balance |
|---|---|---|---|
| Zhejiang Changxing Rural Commercial Bank Co., Ltd. Heping Branch | 201000329163533 | Dedicated Fund Account | 4,177.56 |
| CITIC Bank Co., Ltd. Huzhou Changxing Branch | 8110801012802656856 | Dedicated Fund Account | 5,345.19 |
| Zhejiang Changxing Rural Commercial Bank Co., Ltd. Heping Branch | 203000062373494 | Cash Management Account | 1,000.00 |
| Zhejiang Changxing Rural Commercial Bank Co., Ltd. Heping Branch | 203000062374392 | Cash Management Account | 2,000.00 |
| Zhejiang Changxing Rural Commercial Bank Co., Ltd. Heping Branch | 203000062375321 | Cash Management Account | 15,000.00 |
| Total | 27,522.75 |
IV. Specific Situation and Main Reasons for Project Extension
(1) Project Extension Situation
Based on prudent principles and the actual construction situation and investment progress of the fundraising projects, the Company plans to adjust the dates for the projects to reach the predetermined usable state as follows:
| No. | Fundraising Investment Project Name | Original Date | Adjusted Date |
|---|---|---|---|
| 1 | Construction of Demonstration Base for Recycling of Waste New Energy Battery Equipment | March 31, 2026 | September 30, 2027 |
| 2 | Construction of Production Base for Recycling Equipment of Construction Waste (Phase I) | March 31, 2026 | September 30, 2027 |