On June 29, 2024, English power (300956.SZ) held the 26th meeting of the second board of directors and the 20th meeting of the second supervisor board, and approved the proposal on extending the construction period of some raised funds projects. The time for the "annual production of 2 million pieces of PC full-milling metal precision structural parts project" and the "PC full-milling metal precision structural parts technical transformation project" to reach the scheduled usable state was adjusted to December 31, 2024.
In recent years, the market environment and customer demands of the precision structural components and module industry have fluctuated greatly. Overall, downstream notebook shipments have declined, but with the rise of the AIPC concept and the appearance of new growth in downstream terminal customer PC components replacement needs, the precision structural components and module industry is currently in a period of consolidation and recovery. Based on the significant changes in the industry market environment and customer demands, the company needs to re-assess and demonstrate the necessity and feasibility of implementing the two raised investment projects, the "annual production of 2 million pieces of PC full-milling metal precision structural parts project" and the "PC full-milling metal precision structural parts technical transformation project."
Although the company's above raised investment projects are still feasible, the commercial profitability has undergone significant changes, and the subsequent continuation of the projects will depend on the overall industry development and the company's global strategy layout. The company has conducted explorations and feasibility analysis for some business directions, and if the market environment and customer demands of the precision structural components and module industry continue to decline, the possibility of changing the use of the unspent raised funds cannot be ruled out. If there is a plan to change the use of the relevant raised funds, the company will fulfill relevant approval procedures in accordance with regulations and fulfill its information disclosure obligations in a timely manner.