GUOANDA CO.(SZ:300902) Zheng Quan Zhi Xing·2025-08-22 12:20Core Viewpoint - The company has decided to terminate the fundraising project for the "Lithium Battery Energy Storage Cabinet Fire Prevention and Inerting Explosion Suppression System Expansion Project" due to adverse market conditions and to optimize resource allocation [4][5][7]. Fundraising Overview - The company raised a total of RMB 91.63 million by issuing 2.93 million shares at RMB 31.27 per share, with net proceeds amounting to RMB 86.10 million after deducting underwriting and advisory fees [1][2]. - The total investment for the terminated project was RMB 115.35 million, with RMB 84.66 million planned to be funded from the raised capital [2][4]. Project Investment Status - As of August 10, 2025, only RMB 1.99 million (2.35% of the planned amount) has been invested in the project, which included the purchase of some production equipment [4][5]. - The project faced challenges due to declining prices in the energy storage system market, leading to reduced profit margins and increased competition [4][5]. Future Use of Remaining Funds - The remaining funds will continue to be held in a dedicated account, with plans to seek new projects that align with the company's core competencies in energy storage and low-altitude economy [5][6]. - The company aims to ensure efficient use of the remaining funds through thorough market research and compliance with regulatory requirements [5][6]. Impact of Project Termination - The decision to terminate the project is expected to have no significant adverse effects on the company's normal operations and is seen as a strategic move to enhance the efficiency of fund utilization [5][7]. - The board believes that this decision aligns with the company's long-term development needs and will help maintain shareholder interests [7]. Board Review and Approval - The board has reviewed and approved the termination of the fundraising project, which will be submitted for shareholder approval at the upcoming extraordinary general meeting [6][7]. - The sponsor institution has confirmed that the procedures followed are in compliance with relevant regulations [7].