Fushin Technology's Remaining Fundraising Project Funds of 61 Million Yuan to Permanently Supplement Working Capital

MaticHoleFiller · 2026-03-24T08:47:24+00:00

Guangdong Fuxin Technology held a board of directors meeting on March 18, at which it was decided to close three fundraising-backed projects and permanently supplement working capital with the remaining raised funds of 61,003,000 yuan for daily operations. The resolution was unanimously approved by all directors and complies with relevant laws and company bylaws.

MaticHoleFiller

2026-03-24 08:47:24

Abstract generation in progress

Caixin.com March 18 — Guangdong Fuxin Technology Co., Ltd. (Stock Code: 688662, Stock Abbreviation: Fuxin Technology) announced the resolution of the seventh meeting of the fifth board of directors, stating that three fundraising projects have been completed, and plans to permanently add 61.003 million yuan of remaining funds to the working capital.

The announcement shows that the seventh meeting of the fifth board of directors of Fuxin Technology was held on March 18, 2026, through a combination of on-site and remote participation. The meeting was convened and chaired by Chairman Liu Fulin. Nine directors were expected to attend, and all nine attended. The procedures for convening, holding, and voting at the meeting complied with the Company Law and the Articles of Association, making the resolution legally valid.

The meeting approved the proposal on completing the fundraising projects and permanently adding the remaining funds to the working capital. According to the announcement, the company decided to conclude the following three fundraising projects:

Semiconductor Thermoelectric Devices and System Industrialization Upgrade Project
Semiconductor Thermoelectric Complete Machine Production Capacity Expansion Project
R&D Center Construction Project

Project Name	Handling Method
Semiconductor Thermoelectric Devices and System Industrialization Upgrade Project	Completed
Semiconductor Thermoelectric Complete Machine Production Capacity Expansion Project	Completed
R&D Center Construction Project	Completed

As of February 28, 2026, the remaining funds from these projects amounted to 61.003 million yuan (including interest, net cash management income, and unpaid amounts; the actual amount is based on the balance in the special account on the transfer date). The company plans to permanently add this amount to the working capital for daily production and operations.

This proposal was approved by the board with a vote of 9 in favor, 0 against, and 0 abstentions. It is also noted that this proposal was previously reviewed and approved by the company’s Fifth Board of Directors Audit Committee at its first meeting in 2026.

Fuxin Technology stated that detailed information can be found in the company’s announcement on the Shanghai Stock Exchange website titled “Announcement on the Completion of Fundraising Projects and the Permanent Addition of Remaining Funds to the Working Capital” (Announcement No.: 2026-006).

Click to view the original announcement >>

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