Jinlei Co., Ltd.: Offshore Wind Power Core Component Digital Manufacturing Project Completion with 42.6174 Million Yuan Surplus Raised Funds Permanently Supplementing Working Capital

On March 19, Jinlei Technology Co., Ltd. (stock code: 300443, stock abbreviation: Jinlei Co., Ltd.) announced that the 15th meeting of the sixth board of directors of the company deliberated and passed the “Proposal on Closing Fundraising Projects and Permanently Replenishing Working Capital with Savings Raised Funds”, agreeing to conclude the “Digital Manufacturing Project of Offshore Wind Power Core Components” and permanently supplement working capital with 42.6174 million yuan of saved funds.

According to the announcement, the matter is within the scope of the board of directors’ approval authority and does not need to be submitted to the shareholders’ meeting for deliberation.

Basic information on the funds raised

With the approval of the China Securities Regulatory Commission on the approval of the registration of Jinlei Technology Co., Ltd. to issue shares to specific targets (Zheng Jian Xuan Xu [2023] No. 218), the company issued 63,700,414 shares to specific targets in 2023, with an issue price of 33.78 yuan per share, and a total of 215,179,998,492 yuan, after deducting the issuance fee of 10,702,10682 yuan (excluding tax), the actual net amount of funds raised was 214. 1,097,878,100 yuan. The availability of the above raised funds has been verified by Grant Thornton Certified Public Accountants and issued a “Capital Verification Report”.

Raised funds for investment projects

According to the company’s “Prospectus for the Issuance of Shares to Specific Targets (Registration Draft)”, the total amount of funds to be raised by issuing shares to specific targets does not exceed 215,180,000 yuan, and the net funds raised after deducting issuance expenses are all used for the following items:

The completion of fundraising projects and the situation of saving funds raised

As of the disclosure date of this announcement, the “Digital Manufacturing Project of Core Components of Offshore Wind Power” has been completed and the conditions for completion have been met. The use and savings of the project funds are as follows:

The announcement pointed out that after the company transfers the savings raised funds, the final payment, warranty and other funds to be paid according to the contract will continue to be deposited in the special account for raising funds corresponding to the project, and the company will continue to complete the payment through the special account for raising funds.

Analysis of the reasons for the savings of raised funds

Jinlei said that there are two main reasons for the savings of raised funds: first, in the process of project implementation, the company strictly follows the regulations on the use of raised funds, proceeds from the actual situation, and on the premise of ensuring the quality and progress of the project, in line with the principles of reasonable, economical and effective, prudently uses the raised funds, strengthens cost control and management, rationally allocates resources, and reduces project construction costs and expenses; Second, on the premise of ensuring that it does not affect the construction of fund-raising projects and the safety of raised funds, the company uses part of the temporarily idle raised funds for cash management to obtain certain investment income, and also generates a certain amount of deposit interest income during the deposit period of the raised funds.

The plan and impact of the use of surplus raised funds

The company intends to transfer the above-mentioned savings of 42.6174 million yuan (the actual balance of the special account for raised funds at the time of actual carryover) to the company’s own fund account for permanent replenishment of liquidity, and then for the company’s daily production and operation.

The company said that the permanent replenishment of working capital with the surplus raised funds is a prudent decision made based on the actual progress of the fundraising project and the company’s production and operation, which is conducive to improving the efficiency of capital use and reducing the company’s financial expenses, which is in line with the company’s long-term development needs, will not adversely affect the company’s production and operation, and is in line with the interests of the company and all shareholders.

Review procedures and opinions of sponsors

On March 13, 2026, the third meeting of the Company’s Audit Committee in 2026 deliberated and passed the relevant proposals, believing that the permanent replenishment of working capital from the savings raised funds is in line with the needs of the company’s development strategy, in line with the interests of the company and all shareholders, and there is no situation that harms the interests of the company’s shareholders, especially small and medium-sized shareholders.

On March 19, 2026, the 15th meeting of the sixth board of directors of the company deliberated and approved the proposal, believing that the completion of the project and the permanent replenishment of liquidity with the saved funds are based on the company’s business layout and the actual use of the raised funds, which is in line with the company’s business development and the interests of all shareholders.

After verification, the sponsor Zhongtai Securities Co., Ltd. believes that the company has fulfilled the necessary decision-making procedures for this matter, the relevant deliberation procedures comply with relevant laws and regulations, and there is no harm to the legitimate rights and interests of the company and shareholders, especially small and medium-sized shareholders.

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