Rongli Technology Uses Remaining @E1@.17 Hundred Million Yuan from Fundraising Project to Permanently Supplement Working Capital

【Shenzhen News】Rongqi Industrial Technology (Suzhou) Co., Ltd. (Stock Code: 301360, Stock Name: Rongqi Technology) announced on March 19th that the company’s 9th meeting of the third board of directors approved the proposal on the completion of the fundraising project and the permanent replenishment of surplus funds into working capital. The company plans to conclude the “Smart Measurement and Control Equipment R&D and Manufacturing Center Project” funded by the initial public offering (IPO), and use the remaining 116.6822 million yuan of the fundraising proceeds to permanently supplement working capital.

The announcement shows that this matter still requires approval from the company’s shareholders’ meeting, and the sponsor, Dongwu Securities, has issued a clear confirmation of review.

Basic Information on Fundraising

Rongqi Technology completed its IPO in April 2023, issuing 13.34 million shares at 71.88 yuan per share, raising a total of 958.87 million yuan. After deducting issuance costs of 100.28 million yuan (excluding tax), the net proceeds amounted to 858.60 million yuan.

According to the prospectus, the company originally planned to use the raised funds for the following projects:

The actual net amount of funds raised exceeded the committed investment amount by 566.36 million yuan, representing an oversubscription.

Surplus Fund Usage of the Fundraising Projects

As of February 28, 2026, the “Smart Measurement and Control Equipment R&D and Manufacturing Center Project” has completed investment and reached operational status. The specific fund usage and surplus details are as follows:

Note: Pending payments refer to signed contracts yet to be paid, including final payments and warranty deposits; the actual surplus amount is based on the balance of the dedicated account on the transfer date.

Reasons for Surplus and Usage Plan

The company states that the surplus funds mainly come from two sources: first, strict cost control during project implementation, optimizing resource allocation to reduce construction costs; second, temporarily idle raised funds used for cash management and deposit interest income.

According to the announcement, the company intends to permanently use the surplus of 116.68 million yuan to supplement working capital for daily operations. For pending payments under signed contracts, before the transfer of surplus funds, payments will still be made from the dedicated fundraising account; after the transfer, any unpaid amounts will be paid by the company’s own funds. After the funds are transferred out, the company will handle the cancellation of the related fundraising account.

Board and Sponsor Opinions

The company’s board believes that concluding the fundraising project and permanently replenishing surplus funds into working capital is a reasonable decision based on project progress and the company’s operational needs. It will improve the efficiency of fund use, ensure the company’s liquidity needs for business development, and benefit all shareholders.

Dongwu Securities, after review, considers that the matter has completed necessary internal approval procedures, complies with the “Regulations on the Supervision of Fundraising by Listed Companies” and the “Guidelines for Self-Regulation of Listed Companies on the Growth Enterprise Market No. 2—Standardized Operation of GEM Listed Companies,” and has no objections to this matter.

This matter is subject to approval by the company’s shareholders’ meeting before implementation.

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