Lexy Electric reallocates convertible bond funds to boost working capital

Lexy Electric Co., Ltd. is concluding its convertible bond fundraising projects from 2022, re-designating the remaining funds for permanent working capital. The company's second extraordinary general meeting in 2025, scheduled for December 10, 2025, will seek shareholder approval for this proposal. A total of CNY 223,204,900 from the convertible bond projects, including investment income and bank interest, will be used to support daily operations and business expansion.

The initial convertible bond issuance in October 2022 raised CNY 1,200,000,000. After deducting issuance costs, the net proceeds were CNY 1,191,826,886.80. As of November 17, 2025, the company had utilized CNY 980,734,300 of the funds. The remaining balance includes a significant portion from project savings due to efficient management and cost control, along with interest income from the temporary deployment of idle funds.

Specifically, the "New Energy Vehicle, 5G Communication Equipment, and Industrial Automation Critical Components New Project (Phase I)" generated CNY 201,794,600 in residual funds. The "New 1.25 Million Units of Environmental Cleaning and Healthy Living Small Appliances Expansion Project" contributed CNY 16,437,500, and the "Intelligent Digital Factory Technology Transformation Project" added CNY 4,731,700 to the surplus.