Truchum Advanced Materials closes special accounts for raised funds

Anhui Truchum Advanced Materials & Technology Co., Ltd. announced the cancellation of several special accounts for raised funds. These funds, totaling 1,815,624,000.00 yuan after deducting issuance expenses of 14,376,000.00 yuan, were obtained from the public offering of convertible corporate bonds approved in 2020. The capital was verified by Rongcheng Certified Public Accountants on June 10, 2020.

The company and its subsidiaries maintained these special accounts under a strict management system, complying with relevant regulations for listed companies. The decision to cancel these accounts comes after the complete and compliant utilization of the raised funds for their intended purposes.

Upon the closure of the special accounts, any remaining balance, including interest earned, has been transferred to the company's general settlement accounts. Consequently, all associated regulatory agreements concerning these raised funds have been terminated. The company provided proof of cancellation for these accounts.