Taili Technology reallocates 120 million yuan of raised funds to the new 194 million yuan Nano Valley Industrial Park project

【Shenzhen News】On March 30, Guangdong Taili Technology Group Co., Ltd. (stock code: 301595, stock abbreviation: Taili Technology) released an announcement saying that its board of directors has approved the proposal on “changing the intended use of certain raised funds, the implementation location and implementation entity, and adding new projects for raised funds investment.” The company plans to make major adjustments to its initial public offering stock raised-funds investment projects. According to the announcement, the company will reallocate RMB 120 million in raised funds from the original “Taili Wuhan production and logistics center construction project” for the newly added “Nano Valley Industrial Park R&D and production construction project.” At the same time, it will adjust the implementation location and entity of the “R&D center construction project” and merge it into the newly added project.

Current Status of Raised Funds Use

As of December 31, 2025, the use of the net proceeds from Taili Technology’s initial public offering of 36,952.07 million yuan is as follows:

Based on the data, the company’s overall raised-funds utilization progress is less than 20%. In particular, the investment progress of the Taili Wuhan production and logistics center construction project and the R&D center construction project is especially slow, at only 9.68% and 1.89%, respectively.

Raised Funds Adjustment Plan

According to the announcement, this raised-funds adjustment by Taili Technology mainly includes three aspects: first, reducing the raised funds of the “Taili Wuhan production and logistics center construction project” by RMB 120 million; second, adding the “Nano Valley Industrial Park R&D and production construction project,” which plans to use RMB 193.808 million in raised funds; third, changing the implementation location and entity of the “R&D center construction project,” and merging it into the newly added project.

A comparison of the raised-funds use plan before and after the adjustment:

• |
• | 19,380.80 | 52.45% | | Of which: R&D center construction | 7,380.80 | 19.97% | 7,380.80 | 19.97% | | Of which: Factory building construction |
• |
• | 8,500.00 | 23.00% | | Of which: Jinjü capacity expansion |
• |
• | 3,500.00 | 9.47% | | Information system upgrading project | 4,819.50 | 13.04% | 4,819.50 | 13.04% | | Supplementary working capital | 6,800.00 | 18.40% | 6,800.00 | 18.40% | | Total | 36,952.07 | 100.00% | 36,952.07 | 100.00% |

In addition, the implementation location of the original “R&D center construction project” has been changed from Wuhan to within the Nano Valley Industrial Park in Zhongshan City. The implementation entity has also been changed from Wuhan Taili Technology Co., Ltd. and Taili Technology to Taili Technology.

Reasons for the Adjustment and Strategic Considerations

Taili Technology said that this adjustment is mainly based on the following reasons:

First, the implementation efficiency of the original fund-raising projects needs to be optimized. Due to the fact that the existing gas station at the southwest corner of the plot and surrounding supporting facilities have not yet been completed, the overall construction and funding investment progress of the “Taili Wuhan production and logistics center construction project” has been delayed. For the “R&D center construction project,” in order to better integrate R&D resources, stay close to the core production base, and improve the efficiency of R&D-to-industrialization coordination, it needs to be adjusted to the Nano Valley Industrial Park in Zhongshan City.

Second, the newly added fund-raising project has strategic necessity. In 2025, the company acquired the real estate of Shiqi Entrepreneurship Park in Zhongshan through a public auction, and plans to build the Nano Valley Industrial Park. The park is a key carrier for the company’s layout in the core area of the Guangdong-Hong Kong-Macao Greater Bay Area and for strengthening local manufacturing and R&D capabilities.

Finally, to maximize the efficiency of raised funds usage. After this change, the raised funds will be directly invested in the Nano Valley Industrial Park with land ownership already secured, avoiding the risk of funds being idle caused by delays in the original project. At the same time, through specific investments such as factory building construction and capacity expansion, production capacity and benefits can be established quickly.

Details of the Newly Added Project

The total investment of the “Nano Valley Industrial Park R&D and production construction project” is RMB 301.36 million, of which it plans to use RMB 193.808 million in raised funds. The shortfall will be resolved by the company using its own funds or self-raised funds. The project implementation entities are Taili Technology and its wholly owned subsidiary Zhongshan Yishang Technology Co., Ltd., as well as its wholly owned grandson company Zhongshan Jinjü Household Products Co., Ltd. The construction period is 24 months.

The project investment composition is as follows:

Project construction contents include R&D center construction (merged from the original project), factory building construction (including a magic snap-button workshop, flexible composite base-material workshop, multi-functional surface coating materials workshop, and construction of material warehouses), and Jinjü capacity expansion (upgrading and retrofitting equipment for traditional business).

Risks and Response Measures

The announcement also discloses five major risks faced by the newly added project and corresponding response measures:

In terms of market risk, the company will establish a sound market monitoring and rapid-response mechanism, consolidate the existing market, actively expand the incremental market, and strengthen the marketing service system and brand building.

In terms of management risk, the company will continue to optimize corporate governance and organizational structure, strengthen the building of management teams and talent reserves, and upgrade the information management system.

In terms of technical risk, the company will maintain a high-intensity R&D investment, improve innovation mechanisms, deepen university-industry-research collaboration and external technical exchanges, and strengthen technical standardization and intellectual property protection.

In terms of policy risk, the company will closely track policy developments, adjust the project implementation plan in a timely manner, strictly comply with various laws and regulatory standards, plan compliance control in advance, and strengthen communication with government departments.

In terms of the risk of talent loss, the company will build a competitive compensation and benefits structure and a long-term incentive mechanism, create a favorable platform for career development and a cultural atmosphere, strengthen the construction of talent echelons, and enhance knowledge management.

Review Procedures and Impact

The adjustment matter has already been approved at the 19th meeting of the second session of the board of directors of the company. It still needs to be submitted to the shareholders’ meeting for approval. The company’s audit committee and independent directors have both issued affirmative opinions. The sponsor, Guolian Minsheng Securities Co., Ltd., has also issued a non-objection verification opinion.

Taili Technology said that this adjustment does not change the total amount of raised funds invested. It is favorable for resolving the issue of idle funds resulting from the slow construction progress of the original projects, improving the efficiency of raised funds utilization, strengthening the coordinated linkage between R&D and production, accelerating the industrialization and landing of technological achievements, and aligning with the company’s overall strategic layout focusing on the Guangdong-Hong Kong-Macao Greater Bay Area and strengthening its core business production capacity and R&D capabilities.

The shortfall in the raised funds for this newly added fund-raising project will be resolved by the company through its own funds or self-raised funds in a manner that will not have an adverse impact on the company’s financial condition, operating results, or its ability to continue operating. It will also not affect the normal progress of the other fund-raising projects.

(End)

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