Zheng Quan Zhi Xing·2025-07-18 09:16Core Viewpoint - Guizhou Tire Co., Ltd. has decided to postpone the expected usable status date of its fundraising project "Annual Production of 380,000 Steel Engineering Radial Tires Intelligent Manufacturing Project" from July 30, 2025, to March 31, 2026, due to the complexity of product specifications and the need for thorough development and testing [4][5][6]. Fundraising Basic Situation - The company issued 18 million convertible bonds with a face value of RMB 100 each, raising a total of RMB 1,800 million, with a net amount of RMB 1,787,304,244.76 received by April 28, 2022 [2]. Fundraising Usage Situation - The original project "Annual Production of 3 Million High-Performance Steel Radial Tires Intelligent Manufacturing Project" was terminated, and funds were redirected to the "Annual Production of 380,000 Steel Engineering Radial Tires Intelligent Manufacturing Project" [3]. - As of June 30, 2025, the cumulative investment in the fundraising project was RMB 1,407,944.03 million, with a total commitment of RMB 1,800 million [3]. Postponement Details and Reasons - The postponement of the project is attributed to the large product specification range and the lengthy development and validation cycle required for new products, which has delayed equipment procurement, installation, and debugging [3][5]. Impact of Postponement on the Company - The postponement is a cautious decision based on actual project implementation conditions and does not affect the project’s implementation subject, location, investment purpose, or total committed investment amount [5][6]. - The company will enhance supervision and management of fundraising usage to improve efficiency and expedite project construction [5][6]. Related Review Procedures - The board of directors has approved the postponement of the project, ensuring that necessary approval procedures were followed [6]. Sponsor Institution's Review Opinion - The sponsor institution has no objections to the postponement, confirming that it complies with relevant regulations and does not change the fundraising project direction [6].