Horizon Technology Co., Ltd. (hereinafter referred to as "the Company") held the 22nd meeting of the second board of directors on April 21, 2026, where it reviewed and approved the proposal regarding the postponement of certain fundraising investment projects. The specific circumstances are announced as follows:
1. Basic Situation of Fundraising
According to the approval from the China Securities Regulatory Commission (CSRC) regarding the registration of the Company's initial public offering (IPO) of stock (Zheng Jian Xu Ke [2022] No. 1447), the Company issued 51.67 million shares of RMB ordinary stock at an issue price of RMB 14.60 per share, raising a total of RMB 754.382 million. After deducting issuance expenses, the net amount raised was RMB 675.8285 million. The status of the raised funds has been verified by Rongcheng Accounting Firm (Special General Partnership), which issued verification report No. Rong Cheng Yan Zi [2022] 215Z0050. The Company manages the raised funds in a dedicated account and has signed a tripartite supervision agreement with the sponsor and the bank where the dedicated account is held.
2. Explanation of Fundraising Usage
The Company held the 20th meeting of the first board of directors and the 12th meeting of the first supervisory board on August 18, 2023, and convened the first extraordinary general meeting of shareholders in 2023 on September 11, 2023, where it approved the proposal regarding the addition of implementation locations, subjects, and changes in the use of raised funds for certain fundraising investment projects. It was agreed that without changing the investment direction, total investment amount, or implementation content of the fundraising projects, the content of the original IPO fundraising project "Kunshan Hanjing Precision Connector Production Project" regarding "purchase and installation costs of hardware and software equipment and working capital totaling RMB 236.8701 million" would be changed to be implemented by the wholly-owned subsidiary Dongtai Runtian Precision Technology Co., Ltd. (hereinafter referred to as "Dongtai Runtian") using its existing factory. For specific details, please refer to the announcement disclosed by the Company on the Giant Tide Information Network regarding the addition of implementation locations, subjects, and changes in the use of raised funds (Announcement No. 2023-054).
The Company held the 6th meeting of the second board of directors and the 5th meeting of the second supervisory board on April 22, 2024, and convened the annual general meeting of shareholders for 2023 on May 16, 2024, where it approved the proposal regarding changes to certain fundraising investment projects, the use of excess raised funds, and increasing investment with self-owned funds to implement fundraising projects. It was agreed that the remaining "construction engineering costs, other engineering construction costs, and contingency costs totaling RMB 185.6608 million" from the original IPO fundraising project "Kunshan Hanjing Precision Connector Production Project" would be entirely changed to be used for the "Semiconductor Metal Heat Sink Material Project" and "Automotive High-Frequency Signal Cable and Connector Project." The total investment for the two new projects is RMB 271.94 million, intending to use RMB 185.6608 million from the original fundraising project and also utilize excess raised funds of RMB 79.2976 million and self-owned funds of RMB 6.9816 million to increase the investment amount. For specific details, please refer to the announcement disclosed by the Company on the Giant Tide Information Network regarding changes to certain fundraising investment projects (Announcement No. 2024-027).