Shenzhen Zhishang Technology Co., Ltd. (hereinafter referred to as "the Company") held the 16th meeting of the 3rd Board of Directors on April 20, 2026, where it reviewed and approved the proposal on the use of part of the idle raised funds (including overraised funds) for cash management. The Company agreed to use up to RMB 900 million of idle raised funds for cash management, provided it does not affect the construction of investment projects funded by the raised funds or the normal operation of the Company. The usage period is valid for twelve months from the date of approval by the shareholders' meeting, and the funds can be used in a rolling manner. This matter was approved by the 10th meeting of the Audit Committee of the 3rd Board of Directors and a special meeting of independent directors before being submitted for board review. The relevant information is announced as follows:
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Basic Information on Raised Funds
With the approval of the China Securities Regulatory Commission regarding the initial public offering of shares (Approval No. [2023] 1022), the Company was authorized to issue 32,170,300 A shares to the public, with a par value of RMB 1 per share. As of July 7, 2023, the Company has issued 32,170,300 A shares at an issue price of RMB 57.66 per share, raising a total of RMB 1,854,939,498.00. After deducting underwriting fees and other issuance expenses (excluding deductible VAT input tax), the net amount raised is RMB 1,689,247,430.68. All funds have been received and verified by Rongcheng Accounting Firm (Special General Partnership), which issued a verification report (Rongcheng Verification No. [2023] 518Z0096). The Company has opened a special account for the raised funds and signed a storage supervision agreement with the sponsor (lead underwriter) and the bank holding the raised funds for dedicated management of the raised funds. -
Usage of Raised Funds
The total amount of raised funds is RMB 185,493.95 million. After deducting underwriting fees and other issuance expenses (excluding deductible VAT input tax), the actual net amount raised is RMB 168,924.74 million, of which overraised funds amount to RMB 38,706.91 million. As of December 31, 2025, the specific investment plans and actual investment situations are as follows:No. Project Name Estimated Investment Amount Estimated Use of Raised Funds Cumulative Investment Amount by End of 2025 1 Game Machine Core Components Expansion Project 40,703.32 40,085.95 20,582.26 2 Electronic Connector Expansion Project 25,489.77 25,489.77 8,434.42 3 5G Components Expansion Project 21,994.49 21,729.90 9,175.70 4 R&D Center Construction Project 16,030.25 15,912.21 4,704.93 5 Working Capital Supplement Project 27,000.00 27,000.00 26,230.52 Total 131,217.83 130,217.83 69,127.83
On August 28, 2023, the Company held the 12th meeting of the 2nd Board of Directors and the 9th meeting of the 2nd Supervisory Board, where it reviewed and approved the proposal to use raised funds to replace self-raised funds already invested in fundraising projects and paid issuance expenses, agreeing to use raised funds to replace self-raised funds of RMB 364,952,958.28 and self-raised funds of RMB 5,983,123.11 paid for issuance expenses, totaling RMB 370,936,081.39. On January 18, 2024, the Company held the 17th meeting of the 2nd Board of Directors and the 12th meeting of the 2nd Supervisory Board, and on February 5, 2024, held the first extraordinary shareholders' meeting of 2024, where it reviewed and approved the proposal to use part of the overraised funds to acquire 52% equity of Shenzhen Xike Industrial Co., Ltd., agreeing to use RMB 130,000,000 of overraised funds for the acquisition.