Guolian Aquatic ends central kitchen project, reallocates funds to working capital

Zhanjiang Guolian Aquatic Products announced on September 26, 2025, the termination of its "Guomei Aquatic Products Central Kitchen Project" and the permanent reallocation of the remaining raised funds, totaling CNY 19,340.56, to supplement working capital. This decision, approved by the board of directors and supervisors, awaits shareholder approval at an extraordinary general meeting scheduled for October 14, 2025.

The central kitchen project, initially planned for completion by January 17, 2025, was previously extended to January 17, 2026. However, due to changes in macroeconomic conditions, a decline in the pre-cooked dish market, and sufficient existing production capacity, the company decided to optimize resource allocation. The project had a cumulative investment of CNY 1,000.80 from the raised funds.

This reallocation is deemed a prudent decision to enhance capital efficiency, reduce financial costs, and aligns with Guolian Aquatic's long-term interests without adversely affecting its operations or shareholder interests. The related fund management accounts will be closed upon completion of the capital reallocation.