TCL Technology completes raised funds utilization and account closures

TCL Technology Group Corp has completed the use of its raised funds from the issuance of shares and cash payment for asset acquisition, as well as the simultaneous raising of supporting funds. Approved by the China Securities Regulatory Commission, the company issued 1,035,489,574 RMB ordinary shares, raising a total of RMB 4,359,411,106.54. After deducting related issuance expenses of RMB 58,415,381.56 (excluding tax), the net raised funds amounted to RMB 4,300,995,724.98. These funds were primarily used to pay the cash consideration for the acquisition of a 21.5311% equity stake in Shenzhen China Star Optoelectronics Technology Co., Ltd.

The company confirmed that all raised funds have been utilized in accordance with the established plan and management regulations, ensuring dedicated use. In line with regulatory requirements, TCL Technology has completed the deregistration of all five special fund accounts associated with this project. These accounts were held with various banks, including Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, and Shanghai Pudong Development Bank.

With the closure of these special fund accounts, the tripartite supervision agreements signed between the company, the opening banks, and the independent financial advisor, Shenwan Hongyuan Securities Underwriting & Sponsorship Co., Ltd., have also been terminated.