SUNOREN(SH:603105) Shang Hai Zheng Quan Bao·2025-10-24 21:01Core Viewpoint - The company has announced an extension of the implementation period for its "Distributed Photovoltaic Power Station Construction Project" to October 2026 due to various factors affecting project progress, while maintaining the total investment amount from the raised funds [10][13][16]. Financial Data - The company raised a total of RMB 880 million through the issuance of convertible bonds, with a net amount of RMB 869.56 million after deducting issuance costs [10][11]. - As of September 30, 2025, the total investment in the "Distributed Photovoltaic Power Station Construction Project" and "Repayment of Bank Loans" was reported, with specific amounts allocated to each project [11][12]. Project Delay Reasons - The delay is attributed to the complexity of implementing multiple photovoltaic stations across various provinces, differing market conditions, and changes in resource availability [13][14]. - The rapid decline in the photovoltaic industry chain prices and increased competition have also contributed to the delay [13][14]. Measures for Completion - The company plans to actively coordinate resources for projects that are ready for implementation and will monitor changes in industry policies to enhance the efficiency of fund usage [15][16]. - If certain projects cannot meet expected returns, the company will consider resource replacement or adjustments to the funding plan [15][16]. Impact of Delay - The project delay is expected to only affect the investment timeline without altering the total investment amount or harming shareholder interests [16][19]. - The company will continue to focus on its core business and expand its photovoltaic operations in economically developed regions [16]. Board Meeting and Approval - The board of directors approved the extension of the project timeline during the 12th meeting of the 5th board on October 24, 2025 [17][29].