SUNOREN(SH:603105) Zheng Quan Zhi Xing·2025-08-13 16:24Core Viewpoint - The announcement discusses the change in the fundraising investment sub-projects of Zhejiang Xinneng Photovoltaic Technology Co., Ltd. (referred to as "Xinneng Technology"), specifically the replacement of certain unfeasible distributed photovoltaic power station projects with new projects that are ready for implementation [1][2]. Group 1: Project Adjustments - The company has approved a proposal to replace certain unfeasible sub-projects within the "Distributed Photovoltaic Power Station Construction Project" with new projects that have been reserved and are ready for implementation [2]. - The number of involved power stations has increased from 67 to 77, and the registered installed capacity has risen from 204.31 MW to 213.39 MW [1]. - The total investment amount for the adjusted project is 700.71 million yuan, with capital expenditures totaling 636.06 million yuan and the remaining 64.65 million yuan allocated for non-capital expenditures [1]. Group 2: Financial Implications - The company plans to use 616 million yuan of the raised funds for capital expenditures, while any shortfall and non-capital expenditures will be covered through self-raised funds [1]. - The previous total investment amount was 778.46 million yuan, indicating a reduction in investment due to the project adjustments [1]. Group 3: Credit Rating and Outlook - The credit rating agency, Zhongzheng Pengyuan, has decided to maintain the company's credit rating at AA- and the outlook remains stable [2][3]. - The agency will continue to monitor the construction, production, and future revenue of the fundraising investment projects, assessing their impact on the company's credit rating and the credit rating of the "Xinneng Convertible Bonds" [3].