MJNY(SZ:000723) Xin Lang Cai Jing·2025-11-07 13:03Core Points - Shanxi Meijin Energy Co., Ltd. has decided to terminate the hydrogen fuel cell power system and hydrogen fuel commercial vehicle parts production project due to insufficient investment progress and changing project implementation environment [1][2] - The company plans to permanently allocate the remaining fundraising of 179 million yuan to supplement working capital, with the project having only achieved a 29.37% investment progress as of September 30, 2025 [2][3] - The board of directors has approved the termination and the change in fund usage, which will be submitted for approval at the upcoming temporary shareholders' meeting and bondholders' meeting [2][3] Summary by Sections Project Termination - The hydrogen energy project has been terminated due to less than 30% investment progress, with a total of 73.43 million yuan invested so far [2] - The remaining fundraising balance is 179.18 million yuan, accounting for 5.04% of the net fundraising amount [2] Meetings Announcement - A temporary shareholders' meeting is scheduled for November 25, 2025, to discuss the termination of the fundraising project [3] - The first bondholders' meeting for "Meijin Convertible Bonds" will be held on the same day to review the change in fundraising usage [3] Board Meeting Details - All nine directors participated in the board meeting, and all proposals were approved unanimously [3]