Queclink Wireless reallocates surplus project funds, boosts working capital

Queclink Wireless Solutions (SZSE:300590) announced on December 22, 2025, that its Fourth Board of Directors' Twentieth Meeting approved the finalization of its fundraising projects, which include the "4G and 5G Communication Technology Industrialization Project," the "Animal Traceability Product Information Technology Industry Upgrade Project," and the "Industrial Wireless Router Project." The board resolved to permanently allocate the remaining funds of 94,557,000.00 yuan from these projects to supplement the company's working capital.

These projects, funded by shares issued to specific investors in 2021, have been substantially completed, leading to surplus capital due to optimized fund allocation, cost controls, and investment income from idle funds. The decision aims to enhance capital efficiency and will result in the deregistration of the associated special bank accounts and the termination of supervision agreements.

The board also approved a change in the registered capital from 459,880,712.00 yuan to 459,917,538.00 yuan, reflecting an increase of 36,826 shares from stock option exercises between June and August 2025. This change necessitated revisions to the company's Articles of Association. All resolutions will be submitted for shareholder approval at the first extraordinary general meeting in 2026, scheduled for January 7, 2026.