The scheduled serviceable status of the wall switch socket production base project will be postponed

Beijing News (reporter Zheng Mingzhu) on December 20, bull Group Co., Ltd. (hereinafter referred to as "bull group") issued the "announcement on the extension of part of the investment projects with raised funds", saying that under the condition that the implementation subject, investment purpose and investment scale of the raised investment projects remain unchanged, it is proposed to extend the expected serviceable status of the fund-raising investment project "0.41 billion sets of wall switch socket production base construction project" from February 2024 to February 2026.

The announcement shows that according to the "Approval of the Approval of the Initial Public Offering of Bull Group Co., Ltd." issued by the China Securities Regulatory Commission (Securities Regulatory Commission License [2019] No. 3001), the company's initial public offering of 60 million RMB ordinary shares (A shares) The issue price is 59.45 yuan per share, and the total amount of funds raised is RMB 3.567 billion. After deducting various new share issuance expenses, the actual net amount of funds raised is RMB 3.503 billion. The above-mentioned fund-raising funds were deposited in the special fund-raising account on January 22, 2020.

The company's fund-raising project "annual output of 0.41 billion sets of wall switch socket production base construction project" includes the construction of new manufacturing plants to build automated production lines, lean production lines to meet the company's wall switch socket business rapid development needs. At present, the main body of the project construction is under construction, and the project was established according to the development plan at that time, taking into account the market environment, industry development trend and the actual situation of the company. However, due to the large overall project volume of the raised investment project, the construction period is long, and there are many uncontrollable factors in the process of project construction, which adversely affects the construction and project filing of the raised investment project, the overall progress of the project has been delayed compared with the plan.

Bull Group stated that in order to effectively improve the use effect of the raised funds, ensure the implementation quality and project benefits of the raised funds investment projects, etc., combined with the actual construction situation and investment progress of the raised funds, it plans to extend the expected usable status date of the above raised funds. To February 2026.