Core Viewpoint - The company, Kexin New Materials, announced a delay in the construction timeline for its 6,000-ton annual production line of silicon carbide composite materials for new energy battery applications, pushing the expected completion date from December 31, 2025, to December 31, 2026 [1] Group 1: Project Details - The total planned investment for the fundraising project is 73.6737 million yuan, with 29.5365 million yuan already invested, representing a progress rate of 40.09% as of November 30, 2025 [1] - The project will not change its implementation entity, fundraising purposes, or investment scale despite the timeline adjustment [1] Group 2: Reasons for Delay - The delay is attributed to several factors: the focus on the construction of the crucible production line, the ongoing market cultivation phase for the crucible, a phased construction strategy to ensure financial safety and investment efficiency, careful selection of process equipment to maintain technological leadership, and the need to validate market acceptance before scaling production [1] Group 3: Risk Management - The management has assessed potential risks associated with the project delay, including market demand fluctuations, technology iteration and product updates, capacity digestion and market competition, and investment returns falling short of expectations [2] - The adopted strategy of delay and phased construction is based on a cautious evaluation of these risks, aiming to minimize investment losses due to market or technological changes and ensure expected returns post-production [2]
科创新材：募投项目延期