Tianneng Battery (SH:688819) Zhong Guo Jing Ji Wang·2025-12-01 07:47Core Viewpoint - TianNeng Co., Ltd. announced the postponement and termination of certain fundraising projects, reallocating surplus funds to permanently supplement working capital [1][2][3] Group 1: Project Adjustments - The "Huzhou South Taihu Base 10GWh Lithium Battery Project" and the "TianNeng Sodium-Ion Battery Pilot Line Technical Transformation Project" have their expected operational dates postponed to December 2027 [1][2] - The "Large Lithium Battery R&D Platform Construction" project is terminated, with surplus funds of 146.26 million yuan (including interest of 5.97 million yuan) to be used for working capital [1][2] Group 2: Corporate Governance - The third board meeting and supervisory board meeting approved the proposals regarding project adjustments and fund reallocations, pending approval from the shareholders' meeting [2][3] - The sponsor, CITIC Securities, provided a clear verification opinion on the matters [2][3] Group 3: Financial Overview - TianNeng Co., Ltd. raised a total of 4.873 billion yuan during its IPO, with a net amount of 4.730 billion yuan after deducting issuance costs [4] - The final net fundraising amount exceeded the original plan by 1.135 billion yuan [4]