Sanmei Co., Ltd. plans to use no more than 120 million yuan of idle raised funds for cash management to improve capital utilization efficiency

[Finance Network News] Zhejiang Sanmei Chemical Co., Ltd. (stock code: 603379, stock abbreviation: Sanmei Co., Ltd.) held the sixth meeting of the seventh board of directors on March 24, 2026, and reviewed and approved the “Proposal on the Use of Idle Raised Funds for Cash Management.” The company plans to utilize no more than 120 million yuan of idle raised funds for cash management, ensuring the normal implementation of investment projects and the safety of funds, investing in low-risk, liquid principal-protected products to improve fund utilization efficiency and increase shareholder returns.

The announcement indicates that the authorization period for this cash management is 12 months from the date of the board’s approval, with the cash management amount at any point within the authorization period not exceeding 120 million yuan, and the funds may be recycled for use. Investment types include structured deposits, large time deposits, fixed deposits, unit agreement deposits, and income certificates, among other principal-protected products.

It is understood that the funds used for cash management by Sanmei Co., Ltd. come from the idle raised funds from its initial public offering in 2019. The total amount raised from this issuance was 1,937.1659 million yuan, with a net amount of 1,812.8960 million yuan. As of September 30, 2025, the cumulative investment progress of multiple fundraising projects by the company varies, with some projects completed and others still in progress.

The company disclosed the cash management situation of raised funds over the last 12 months (from March 25, 2025, to March 24, 2026) as follows:

Sanmei Co., Ltd. stated that this cash management is conducted without affecting the implementation of fundraising projects and the safety of raised funds, and will not change the purpose of raised funds in disguise. The company will strictly select investment targets, establish a ledger to track changes in product net value, and will be supervised and inspected by the audit department, independent directors, and the audit committee to control investment risks.

The company also reminds that although the invested products are principal-protected, they may still be affected by macroeconomic factors, policy factors, and market interest rate fluctuations, leading to actual returns falling short of expectations.

The sponsoring institution, Changjiang Securities Underwriting and Sponsorship Co., Ltd., has verified this matter, believing that the company has followed the necessary approval procedures, complies with relevant regulations, does not affect the normal progress of fundraising projects, and does not harm shareholders’ interests, agreeing to the company’s use of idle raised funds for cash management.

This matter does not constitute a related party transaction and does not need to be submitted to the shareholders’ meeting for deliberation.

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Editor: Xiaolang Quick Report