Hongchang Technology Board Approves Partial Fundraising Project Completion Proposal; Plans to Permanently Supplement Working Capital with Surplus Raised Funds

MaticHoleFiller

2026-03-25 09:22:13

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On March 17, Zhejiang Hongchang Electric Appliance Technology Co., Ltd. (Stock Code: 301008, Stock Abbreviation: Hongchang Technology) announced the resolution of the 11th meeting of the third board of directors. The meeting approved the proposal on the completion of some fundraising projects and the permanent replenishment of surplus funds into working capital, as well as the proposal to convene the first extraordinary general meeting of 2026. These proposals will be submitted to the shareholders’ meeting for review.

The announcement shows that the 11th meeting of the third board of directors of Hongchang Technology was held on March 17, 2026, through on-site and remote voting. The meeting was convened and presided over by Chairman Lu Baohong. There were 8 directors expected to attend, and all 8 attended. Senior management of the company attended the meeting as non-voting participants. The procedures for convening, holding, and voting at the meeting complied with the Company Law and other relevant laws, regulations, and the company’s articles of association.

The meeting reviewed and approved the following proposals item by item:

Proposal Content	Voting Result	Remarks
Proposal on the completion of some fundraising projects and the permanent replenishment of surplus funds into working capital	8 votes in favor, 0 against, 0 abstain	Approved by the Audit Committee, Strategy Committee, and independent directors’ special meetings; still subject to shareholders’ approval
Proposal to convene the first extraordinary general meeting of 2026	8 votes in favor, 0 against, 0 abstain	For details, see the company’s relevant announcement

It is understood that the specific content of the proposal on completing some fundraising projects and permanently replenishing surplus funds into working capital will be disclosed in a dedicated announcement published on CNINFO (www.cninfo.com.cn). The company stated that after completing some fundraising projects, the surplus funds will be permanently used to supplement working capital, which will help improve the efficiency of fund utilization, optimize the company’s capital structure, and meet the company’s operational development needs.

In addition, to ensure shareholders’ rights are exercised, the company’s board of directors has decided to hold the first extraordinary general meeting of 2026, and the relevant meeting notice has been disclosed on CNINFO.

This board meeting also reviewed and approved several reference documents, including the board resolution, independent directors’ special meeting resolution, resolutions from the Audit Committee and Strategy Committee, as well as relevant verification opinions issued by Guoxin Securities Co., Ltd.

Hongchang Technology stated that it will strictly comply with relevant laws and regulations, fulfill its information disclosure obligations in a timely manner, and ensure that the company’s information disclosure is true, accurate, and complete.

Click to view the original announcement >>

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