Innovation New Material to end project, reallocate surplus funds

Innovation New Material Technology Co., Ltd. will hold its third extraordinary general meeting on September 15, 2025, to discuss ending its "Annual Output of 1.2 Million Tons of Light and High-Strength Aluminum Alloy Materials Project (Phase II)." As of August 15, 2025, this project has utilized 58,347.81 yuan of its allocated 78,985.96 yuan, leaving a surplus of 21,070.19 yuan. The company attributes this surplus to efficient cost control in equipment procurement and construction, along with interest income from dedicated project accounts.

The remaining 21,070.19 yuan from the concluded project will be permanently reallocated to supplement the company’s working capital for daily operations and business development. This move aims to enhance capital utilization efficiency, reduce financial expenses, and maximize shareholder value. Following the transfer, the company plans to close the associated special bank accounts and terminate related regulatory agreements.

This proposal has already received approval from the company's Eighth Board of Directors and the Eighth Board of Supervisors. The company emphasizes that this reallocation will not negatively impact its ongoing operations or the interests of its shareholders, and it will continue to adhere to strict regulatory guidelines for the management of raised funds.