Suntak Technology opens special account to manage idle raised funds

Suntak Technology Co., Ltd. announced the establishment of a temporary special account for idle raised funds to supplement working capital. This follows a resolution passed at the Fifth Board of Directors' Twenty-Second Meeting and the Fifth Board of Supervisors' Fifteenth Meeting on April 15, 2025. The company will use up to 300 million yuan of idle raised funds for operating activities for a period not exceeding 12 months. The special account has been opened with the Shenzhen Branch of China Everbright Bank.

The raised funds, totaling 1,999,999,994.16 yuan, were obtained from a non-public offering approved in March 2023. After deducting issuance expenses of 18,057,376.08 yuan, the net proceeds amounted to 1,981,942,618.08 yuan. As of June 30, 2025, the company had invested 1,019,298,700 yuan into the fundraising projects, with an unused balance of 1,040,486.20 yuan (including wealth management income from raised funds).

A three-party supervision agreement has been signed with China Merchants Securities Co., Ltd. (the sponsor) and China Everbright Bank to regulate the use of these funds. This agreement stipulates that the special account is solely for the temporary replenishment of working capital for the Zhuhai Suntak Circuit Technology Co., Ltd. new circuit board project (Phase II) and cannot be used for other purposes.