Jin Kai New Energy repays temporary working capital ahead of schedule

Jin Kai New Energy Co., Ltd. announced on November 26, 2025, the full repayment of 1.94 bn yuan in idle raised funds that were temporarily used to supplement working capital. The decision to utilize these funds, not exceeding 2 bn yuan, was approved by the company's eleventh board of directors and eleventh supervisory board on November 26, 2024. The approved usage period was not to exceed 12 months.

As of November 25, 2025, the company had cumulatively returned 1.94 bn yuan of the idle raised funds. This repayment was completed on November 24, 2025, ahead of the November 25, 2025, deadline. The funds originated from the 2022 non-public issuance of A-shares, with the proceeds arriving on October 26, 2022.

The company has confirmed that the entire 1.94 bn yuan has been returned to the dedicated raised funds account, adhering to all relevant laws and regulations. This action has been communicated to the company's sponsor institution and sponsor representatives.