Tianyue Advanced plans to use no more than 150 million yuan of idle raised funds for cash management.

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On March 28, Shandong Tianyue Advanced Technology Co., Ltd. (hereinafter referred to as “Tianyue Advanced,” A-share code: 688234; H-share code: 02631) released an announcement stating that the company and its wholly owned subsidiary, Shanghai Tianyue Semiconductor Materials Co., Ltd. (hereinafter referred to as “Shanghai Tianyue”), plan to use cash management for idle proceeds from the offering of no more than RMB 15,000.00 million (including this figure). This额度 may be used on a rolling basis within 12 months from the date the board of directors approves the matter.

According to the announcement, the investment types for this cash management include, but are not limited to, principal-protected wealth management products, structured deposits, agreement deposits, time deposits, notice deposits, large-denomination certificates of deposit, and other products with high safety and good liquidity. The arrangement does not involve securities investments and may not be used for stocks and their derivative products, securities investment funds, or bank wealth management or trust products with bank claims as the investment underlying aimed at securities investment and without collateral.

Basic review of the proceeds from the offering

Tianyue Advanced’s initial public offering of ordinary shares of RMB (A shares) was 42,971,105 shares, with an issue price of RMB 82.79 per share. The total amount of proceeds from the offering was RMB 355,757.78 million. After deducting various issuance costs, the actual net proceeds from the offering were RMB 320,347.13 million. These proceeds were examined and verified by Lixin Certified Public Accountants (Special General Partnership) on January 7, 2022, and have been kept in a special account storage arrangement. The company, together with the sponsor and the deposit bank, signed a fund-raising proceeds supervision agreement.

The company’s investment projects and plans for these proceeds are as follows:

The company states that the source of funds used for this cash management is temporarily idle proceeds from the offering, which will not affect the implementation of the projects funded by the proceeds (the “proceeds investment projects”) or the company’s normal operations.

Specific details of the cash management plan

Investment purpose: Without affecting the normal implementation of the proceeds investment projects, the proceeds usage plan, and ensuring the safety of the proceeds, improve the efficiency of fund utilization, increase asset returns, and protect the interests of shareholders.

Investment amount and term: No more than RMB 1.5 hundred million; the usage period is within 12 months from the date the board of directors approves the matter. The额度 can be used on a revolving rolling basis. Upon maturity, the funds will be returned to the special account for the proceeds from the offering.

Implementation method: The board of directors authorizes the company’s chairman to exercise decision-making power and sign relevant documents within the effective period and the approved额度 for the use of funds. The company’s finance department is responsible for organizing and implementing the specific work.

Profit distribution: The proceeds obtained from the cash management will be used first as working capital needed for the company and its subsidiaries’ daily operations, and will be managed and used in strict accordance with the relevant regulatory requirements.

Risk control and approval procedures

Tianyue Advanced points out that although this cash management selects investment products with high safety and good liquidity, financial markets are affected by the macroeconomy, and there is no guarantee that investments will not be impacted by market volatility. To that end, the company will take multiple risk control measures, including strictly complying with relevant laws and regulations for decision-making and supervision, establishing and improving approval and execution procedures, carefully selecting investment counterparties, tracking the product deployment and project progress, and conducting oversight inspections such as those by independent directors and the audit committee.

This proposal was approved on March 27, 2026 by the company’s second session of the board of directors, nineteenth meeting, and the second session of the audit committee, fourteenth meeting. After conducting due diligence, the sponsor believes that this matter complies with relevant laws, regulations, and the company’s system requirements. There is no situation involving an indirect change of the intended use of the proceeds. It will not affect the normal implementation of the proceeds investment plan, can improve the efficiency of fund utilization, and is consistent with the interests of the company and all shareholders. The sponsor has no objections.

Tianyue Advanced states that using part of the idle proceeds from the offering for cash management will not affect the commencement and construction progress of the proceeds investment projects. It will be beneficial for the company and its shareholders to obtain more investment returns. The company will promptly fulfill its information disclosure obligations in accordance with relevant regulations.

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Responsible editor: Xiao Lang Express