Tongda Hai plans to advance no more than 18 million yuan in self-owned funds for raised investment projects; 10.9335 million yuan has been completed in replacement

Nanjing Tongda Hai Technology Co., Ltd. (Stock Code: 301378, Stock Abbreviation: Tongda Hai) announced on March 17 that the company’s board of directors approved the proposal to use self-owned funds to prepay part of the funds for the fundraising project and to replace them with an equivalent amount of raised funds. During the subsequent implementation of the “Marketing Network Construction Project,” the company plans to use no more than 18 million yuan of its own funds to prepay related expenses such as personnel salaries, and within six months, transfer an equivalent amount from the dedicated fundraising account to the company’s own funds account.

Basic Information on Raised Funds

According to the announcement, Tongda Hai publicly issued 11.5 million A-shares on March 3, 2023, at a price of 95.00 yuan per share, raising a total of 1,092.5 million yuan. After deducting issuance costs, the net amount of funds actually raised was 982.87 million yuan. All the raised funds have been fully received and are managed in a special account.

Fund Investment Projects and Usage Plan

The company’s initial public offering and listing on the ChiNext Board disclosed the following fundraising investment projects and usage plans:

Reasons and Procedures for Replacement

The announcement states that the company’s use of self-owned funds to prepay part of the fundraising project payments is mainly due to two reasons: First, according to relevant regulations by the People’s Bank of China, employee salaries should be paid through the company’s basic deposit account or designated accounts. Direct payments from the fundraising account could result in payments being made through different accounts. Second, expenses related to the fundraising projects, such as social insurance, housing provident funds, and taxes, need to be paid via bank collection methods as required by relevant authorities, which is operationally difficult when using multiple bank accounts.

Regarding procedures, the company’s finance department will regularly compile statistics on payments made in advance with self-owned funds based on project implementation status, establish detailed ledgers, and transfer an equivalent amount from the relevant fundraising accounts to the company’s own funds within six months after payment. The sponsor will continuously supervise this process.

Replacement Status and Future Plans

From September 29, 2025, to the date of this announcement, the company has used a total of 10.9335 million yuan of raised funds to replace self-owned funds paid in advance for the fundraising projects, with details as follows:

The company states that to ensure the smooth progress of the fundraising projects, during the subsequent implementation of the “Marketing Network Construction Project,” it plans to use no more than 18 million yuan of its own funds to prepay related expenses such as personnel salaries, and within six months, transfer an equivalent amount from the dedicated fundraising account to the company’s own funds.

Board and Intermediary Opinions

The company’s board believes that using self-owned funds to prepay part of the fundraising project payments and replacing them with an equivalent amount from the fundraising account is an operational approach based on actual business needs. It can improve the efficiency of fund utilization and ensure the smooth progress of the projects. This complies with relevant laws, regulations, and normative documents, and does not involve covert changes to the use of raised funds or harm the interests of the company and shareholders.

The sponsor, Guotai Haitong Securities Co., Ltd., after verification, considers that this fund replacement does not conflict with the implementation plan of the fundraising projects, does not affect their normal progress, and does not involve covert changes to the use of raised funds or harm shareholder interests, especially those of minority shareholders. They have no objections to this matter.

The company emphasizes that the use of self-owned funds to prepay related payments for the fundraising projects and the replacement with an equivalent amount of raised funds comply with relevant laws and regulations. It does not affect the normal investment plan of the fundraising, nor does it involve covert changes to the use of raised funds. This approach can improve operational management efficiency, ensure the smooth advancement of the projects, and aligns with the interests of the company and all shareholders.

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