Jinggong Technology changes buyer for carbon fiber production line contract

Zhejiang Jinggong Science & Technology Co., Ltd. (Jinggong Technology) has announced a change in the buyer for its RMB515.5 million carbon fiber production line sales contract. The contract was originally signed with Sichuan Zhongyi Huixing New Materials Technology Co., Ltd. The new buyer is Jingyi Fiber Industry (Suining) Technology Co., Ltd. This amendment, formalized through a tripartite agreement, maintains the original contract value and other terms.

Under the revised agreement, Jingyi Fiber Industry (Suining) Technology Co., Ltd. will now be responsible for fulfilling the buyer's obligations. This includes making an initial deposit of RMB10 million by the end of November 2025. The delivery location for the carbon fiber production line will be determined by Jingyi Fiber Industry (Suining) Technology Co., Ltd., differing from the original buyer's factory in Sichuan.

Jinggong Technology emphasizes that this contract change will not materially impact its financial performance or operations, and it is expected to accelerate the implementation of the project. However, the company also noted potential risks due to the long fulfillment period, including industry policy changes, market fluctuations, and unforeseen events, which could affect timely收款 and comprehensive performance.