Sunoren Solar extends project timeline, adjusts internal audit framework

Zhejiang Sunoren Solar Technology Co., Ltd. announced the extension of its "Distributed Photovoltaic Power Station Construction Project" until October 2026, a 12-month deferral from the original October 2025 completion. This decision aims to optimize the investment's return and address changes in macroeconomic conditions, local industrial policies, and resource availability. The company's total raised funds from convertible bonds amounted to RMB 880,000,000.00, with RMB 869,560,445.47 net, allocated primarily to this project and bank loan repayment.

As of September 30, 2025, the distributed photovoltaic power station project had invested RMB 40,543,950.00 of the allocated RMB 61,600,000.00. The project includes 77 sub-projects across six provinces and municipalities, with 57 already connected to the grid, representing 94.85 MW of actual installed capacity. The extension does not alter the total investment amount or the project's direction, and the company confirmed that it will not affect daily capital turnover or core business operations.

In a related development, the board of directors also approved revisions to the company's internal audit system and general manager's work rules, enhancing internal control and risk management. Additionally, new subsidiary management regulations were introduced to improve corporate governance across its operations.