Shenzhen Agricultural Products adjusts fund use, invests idle capital

Shenzhen Agricultural Products Group (SZSE:000061) announced adjustments to its fund-raising projects and plans to manage idle proceeds. Following regulatory approval to issue 287,997,067 A shares at CNY 6.82 per share, generating net proceeds of CNY 1,947,608,790.88, the company adjusted its investment in projects such as Changsha Haijixing Phase II, reducing the allocation by CNY 11,671,209.12 to CNY 508,328,790.88. The total adjusted investment for all projects aligns with the actual net proceeds.

The company also approved using self-raised funds totaling CNY 3,568,962.25 to cover issuing expenses before the proceeds were fully received. These self-raised funds will be reimbursed from the proceeds. Additionally, the board and supervisory committee approved managing idle proceeds up to CNY 1.37 bn for 12 months, investing in secure, high-liquidity, capital-protected products to enhance returns without affecting project timelines.

These decisions, approved by the board and supervisory committee on September 18, 2025, comply with relevant regulations, ensuring adjustments do not alter the intended use of funds or harm shareholder interests. Guosen Securities Co., Ltd. provided verification opinions, confirming adherence to regulatory requirements.