Wencan(SH:603348) Xin Lang Cai Jing·2025-10-28 12:43Core Viewpoint - Wencan Group Co., Ltd. has approved an adjustment to the internal investment structure of the "Chongqing New Energy Vehicle Parts Intelligent Manufacturing Project" to optimize costs while maintaining the total investment and funding scale [1][4]. Fundraising and Project Investment Overview - Wencan Group completed a private placement in July 2024, raising a net amount of 1,032.39 million yuan, allocated to four major projects and working capital [2]. - As of June 30, 2025, the company has invested a total of 872.74 million yuan, achieving an overall investment progress of 84.54% [2]. - Specific project investment details include: - Anhui New Energy Vehicle Parts Intelligent Manufacturing Project: Total investment 1,001.06 million yuan, adjusted funding 250 million yuan, cumulative investment 238.82 million yuan, progress 95.53% [2]. - Chongqing New Energy Vehicle Parts Intelligent Manufacturing Project: Total investment 1,000.50 million yuan, adjusted funding 300 million yuan, cumulative investment 175.43 million yuan, progress 58.48% [2]. - Foshan New Energy Vehicle Parts Intelligent Manufacturing Project: Total investment 801.81 million yuan, adjusted funding 200 million yuan, cumulative investment 175.88 million yuan, progress 87.94% [2]. - Working capital: Total investment 700 million yuan, adjusted funding 282.39 million yuan, cumulative investment 282.61 million yuan, progress 100.08% [2]. Details and Reasons for Chongqing Project Adjustment - The adjustment is driven by actual construction needs, particularly the requirement for high ground bearing capacity for large-scale die-casting equipment and molds [3]. - Special foundation treatments were necessary based on geological surveys, leading to increased construction costs, while procurement optimization helped reduce equipment costs [3]. Impact of the Adjustment on the Company - The internal investment structure adjustment is a prudent decision based on actual construction needs and cost control, without changing the total investment scale or funding amount for the Chongqing project [4]. - The adjustment aims to ensure stable operation of large-scale die-casting equipment, enhancing long-term operational efficiency and aligning with the company's strategic development plan [4].