Sanhua Intelligent Controls to manage up to 300m yuan in idle funds

Zhejiang Sanhua Intelligent Controls announced on September 19, 2025, that its eighth board of directors (eighth extraordinary meeting) and eighth supervisory board (seventh extraordinary meeting) approved the use of up to 300 million yuan of temporarily idle raised funds for cash management. The approval allows for a 12-month duration, with funds eligible for revolving use within this limit, and individual wealth management products held for no more than 12 months.

The funds originate from the company’s public offering of convertible corporate bonds, raising 300 million yuan after deducting issuance expenses, as confirmed by Tianjian Certified Public Accountants. This decision aims to enhance the efficiency of capital use without impacting ongoing investment projects or normal business operations.

Citic Securities, acting as the sponsor institution, confirmed that this cash management initiative aligns with relevant regulations, including the "measures for the administration of sponsor business for securities issuance and listing" and "rules for the supervision of funds raised by listed companies," and does not alter the intended use of the raised funds or harm shareholder interests.