Hengmingda, proyecto de recaudación de fondos de 743 millones, aplazado hasta junio de 2027; el porcentaje de fondos invertidos es inferior al 17%

【Shenzhen report】Suzhou Hengmingda Electronic Technology Co., Ltd. (Stock code: 002947, abbreviation: “Hengmingda”) announced on March 20 that its board of directors held the second meeting of the fourth session and approved the resolution titled “On Delaying the Projects for the Use of Raised Funds.” The company decided to adjust the planned date for the “Huizhou Hengmingda Intelligent Manufacturing Base Construction Project” to reach the state of being ready for use to June 30, 2027. The project’s original plan was to invest 743 million yuan of raised funds; by the end of 2025, only 122 million yuan had been invested, accounting for 16.36% of the planned investment amount.

Slow Progress in the Use of Raised Funds

The announcement shows that Hengmingda completed a share issuance to specific investors in July 2024. The actual net proceeds from the raised funds were 743 million yuan, all of which were used for the “Huizhou Hengmingda Intelligent Manufacturing Base Construction Project.” The project has a total investment of 1.175 billion yuan, plans to invest 1.16 billion yuan of raised funds, and the actual raised funds amount was 743 million yuan.

As of December 31, 2025, the project had cumulatively invested 122 million yuan of raised funds, and the utilization rate was only 16.36%.

Reasons for the Delay: Constraints from the Geographic Environment and Optimization of the Plan

Hengmingda stated that the delay is mainly due to two aspects: first, certain parts of the geographical environment surrounding the second-phase fund-raising project have not yet met the basic conditions for safe construction and施工; relevant departments are gradually handling the issues; second, the company, to seize market opportunities brought by frontier technology iterations, further optimized the factory building planning and functional layout, which led to an extended project implementation schedule.

The company emphasized that this adjustment only involves project progress; the implementation entity, the intended use of the raised funds, and the total investment amount of the fund-raising projects will not change. There is no situation that harms the interests of the company or its shareholders.

Raised Funds Storage Situation

As of December 31, 2025, the company had 7 special accounts for raised funds, with a total raised funds balance of 638 million yuan. Of this, 400 million yuan is used for structured deposits. The specific storage details are as follows:

Safeguard Measures and Impact Assessment

The company stated that the uninvested raised funds will mainly be used for project construction engineering investment, equipment purchase and installation, etc. The company will strengthen supervision over the construction progress of the fund-raising projects, coordinate resources reasonably, and advance subsequent construction in an orderly manner.

The announcement states that this project delay will not cause a significant adverse impact on the company’s normal production and operations, and it is in line with the company’s long-term development plan. This matter has been deliberated and approved by the board of directors; both the independent directors and the sponsor and recommender institution, Guolian Minsheng Securities Co., Ltd., have issued approval opinions.

Hengmingda focuses on the research, production and sales of consumer electronics functional components, consumer electronics protective products, consumer electronics outer box protective films, and other products. The delay of this Huizhou intelligent manufacturing base construction project may have certain effects on the company’s future capacity expansion plans.

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Responsible editor: Xiao Lang Express