Canatal(SH:603912) Zheng Quan Zhi Xing·2025-03-31 08:21Core Viewpoint - The company has decided to extend the implementation deadline for the non-public offering of stock fundraising project "Nanjing Kaide Youyun Data Center Project (Phase II and III)" from March 31, 2025, to June 30, 2026, due to various market factors affecting project execution [1][5][9]. Summary by Sections Non-Public Offering Fundraising Basic Information - The company issued 83,221,388 shares at a price of RMB 10.95 per share, raising a total of RMB 911.27 million, with a net amount of RMB 893.87 million after deducting issuance costs [2][4]. Progress of Fundraising Implementation - As of December 31, 2024, the company has utilized RMB 137.63 million of the raised funds, accounting for 15.40% of the net amount [3][4]. Reasons for Deadline Extension - The project has faced delays due to market conditions, although the main structure is completed and installation of systems is ongoing. The decision to extend the deadline is based on a cautious approach to project implementation [5][6]. Market Outlook - The data center industry in China is expected to grow at a compound annual growth rate of 18.9% over the next five years, providing a favorable market environment for the project [5][6]. Project Location and Infrastructure - The project is located in Nanjing, which has a strong demand for data center services due to the presence of major internet companies and government support for data infrastructure [6][7]. Measures for Ensuring Project Completion - The company will monitor the project's progress closely and adjust strategies as needed to ensure successful implementation and expected benefits [7][8]. Approval Process - The extension of the project deadline has been approved by the company's board and supervisory board, and it will be submitted for shareholder approval [8][9].