KingClean Electric repays ¥200m temporary working capital ahead of schedule

KingClean Electric Company Limited announced the full repayment of ¥200,000,000 in idle raised funds by October 27, 2025. These funds were previously used as temporary supplementary working capital. The company had received approval from its Sixth Board of Directors at the Fourteenth Meeting and the Sixth Board of Supervisors at the Tenth Meeting on October 28, 2024, to utilize up to ¥300,000,000 of idle raised funds for this purpose, with a maximum term of 12 months.

The actual amount utilized by the company and its subsidiaries for temporary working capital was ¥200,000,000. This repayment ensures that the funds have been returned to the designated raised funds special account ahead of the October 27, 2025 deadline.

This move aligns with KingClean Electric's commitment to optimizing the use of its raised funds, adhering strictly to regulatory guidelines set by the China Securities Regulatory Commission and the Shanghai Stock Exchange. The initial raised funds were sourced from publicly issued convertible bonds to unspecified investors on October 20, 2022.