INKON Life closes special fundraising account after full fund utilization

INKON Life Technology Company Limited has announced the cancellation of its special fundraising account, following the full utilization of funds raised from a targeted share issuance. The company successfully issued 107,897,664 ordinary A-shares to Qingdao Yingkang Medical Investment Co., Ltd. at RMB 8.99 per share, accumulating a total of RMB 969,999,999.36. After deducting issuance expenses of RMB 9,610,721.65 (excluding tax), the net proceeds amounted to RMB 960,389,277.71. These funds were fully received by October 18, 2024, and verified by an independent accounting firm.

The company implemented a strict special account management system and approval procedures for the use of these funds. On November 4, 2024, INKON Life, along with Industrial and Commercial Bank of China Qingdao Branch and Guotai Haithong Securities Co., Ltd., signed a tripartite supervision agreement to oversee the storage and use of the funds.

INKON Life has confirmed that all funds in the special account have been fully utilized in accordance with relevant regulations. To reduce management costs, the company has completed the cancellation of this special fundraising account, and the associated tripartite supervision agreement has been terminated.