Nari Technology pivots strategy, reallocates funds to new energy projects

Nari Technology is concluding eleven fundraising projects, including the "Power Electronic Grid Control System Industrialization Experimental Capability Construction Project," reallocating 20,975.81 million yuan in surplus funds and 13,116.37 million yuan in interest to permanent working capital. Additionally, the "IGBT Module Industrialization Project" is being terminated due to industry changes and economic considerations, freeing up 65,000.00 million yuan.

These funds will be redirected to three new projects: the "Large Power Grid Operation Control Digital Twin Key Technology R&D and Industrial Capability Enhancement Project" (53,500.00 million yuan), the "Energy Storage Converter Production Test Line Construction Project" (7,000.00 million yuan), and the "New Energy Storage PACK Pilot Production Line Construction Project" (4,500.00 million yuan). The remaining 31,157.12 million yuan and 23,186.73 million yuan in interest are also allocated to working capital.

In a related move, the company plans to utilize up to 23,000.00 million yuan of idle funds for wealth management through highly secure, principal-guaranteed structured deposits. This aims to enhance capital efficiency while maintaining liquidity, without impacting core business operations. The board emphasizes strict internal controls and regular oversight to mitigate investment risks.

Furthermore, Nari Technology will change its auditing firm from Shinewing Certified Public Accountants (Special General Partnership) to Shanghai Certified Public Accountants (Special General Partnership) for the 2025 fiscal year, after seven consecutive years with the former. The company is also abolishing its Supervisory Board, with its functions transferring to the Board's Audit and Risk Management Committee, and making corresponding amendments to its Articles of Association. A new director, Mr. Chen Chunwu, has been nominated to replace Mr. Chen Lingxin, who resigned due to age.