Zhejiang Taitan (SZ:003036) Shang Hai Zheng Quan Bao·2025-11-19 18:23Core Viewpoint - Zhejiang Titan Co., Ltd. has announced a delay in the completion date of its "Hangzhou R&D Center Construction Project" to May 2026, while maintaining the project's implementation subject, method, content, funding purposes, and investment scale unchanged [1][4][6]. Fundraising Overview - The company issued 2.955 million convertible bonds with a total fundraising amount of RMB 295.5 million, netting RMB 289.96 million after deducting issuance costs of RMB 5.54 million [1][2]. - As of November 11, 2025, the fundraising usage and storage details were provided, indicating that the "Intelligent Textile Machinery Equipment Manufacturing Base Construction Project" was completed in June 2025 [2][3]. Delay Details - The delay in the "Hangzhou R&D Center Construction Project" was attributed to external environmental factors affecting construction progress, despite prior feasibility studies [4][5]. - The company has adopted a cautious funding strategy for the project, which has impacted the overall implementation timeline [4][5]. Measures for Completion - The company plans to use the remaining funds primarily for decoration and equipment procurement, ensuring that the project progresses in an orderly manner [5]. - Enhanced supervision of the project's construction progress will be implemented to facilitate timely completion [5]. Impact of Delay - The delay is a prudent decision based on actual construction progress and does not adversely affect the company's normal operations or shareholder interests [6][8]. Approval Process - The board of directors approved the delay during the 15th meeting of the 10th session on November 19, 2025, with unanimous support from all attending members [7][14]. - The sponsor institution confirmed that the delay complies with relevant regulations and does not harm shareholder interests [8].