Core Viewpoint - The company has decided to terminate the investment project for the annual production of 15,000 tons of ternary precursor due to changes in market conditions and industry dynamics, which will optimize resource allocation and improve the efficiency of fund usage [7][8][10]. Fundraising Overview - The company raised a total of RMB 1,742,885,617.16 through its initial public offering, with a net amount of RMB 1,595,130,043.93 after deducting issuance costs [1]. - All raised funds are managed in a dedicated account, with agreements in place with commercial banks and the sponsor [2]. Investment Project Status - The terminated project had an intended investment of RMB 47,226.97 million and was initially planned for a 24-month construction period [7]. - As of November 30, 2025, the project had utilized RMB 19,093.98 million, leaving a remaining balance of RMB 30,128.7307 million in the dedicated account [7]. Reasons for Termination - The decision to terminate the project was influenced by significant changes in the industry and market environment, which necessitated a dynamic adjustment of the company's business strategy and capacity planning [8]. - The company faces challenges due to reliance on imported raw materials, leading to fluctuations in product pricing and competitive disadvantages [8]. - The overall market competition has intensified, and the current production capacity is deemed sufficient to meet existing business demands, making further investment in the project unnecessary [9]. Impact on the Company - The termination of the project is expected to have no significant adverse effects on the company's normal operations and is aligned with its strategic development goals [10]. - The company will ensure compliance with relevant regulations regarding the management and usage of raised funds [10]. Board Meeting and Approval Process - The board of directors approved the termination of the project during a meeting held on January 9, 2026, and the decision will be submitted for shareholder approval [11][16].
浙江帕瓦新能源股份有限公司 关于终止部分募投项目的公告