On December 18, Leadmicro issued an announcement stating that the company has approved the “Proposal on the Conclusion of Certain Raised-Fund Projects and the Postponement of Others” today. The company agreed to conclude the “Semiconductor Ancillary Equipment Capacity Expansion and Upgrade Project Based on Atomic Layer Deposition Technology” and postpone it to December 2025. This adjustment did not alter the investment direction, implementation entity, or implementation method of the fund-raising project and will not have a substantial impact on its implementation.
The announcement pointed out that the “Photovoltaic and Flexible Electronic Equipment Capacity Expansion and Upgrade Project Based on Atomic Layer Deposition Technology” was determined by the company based on comprehensive factors such as downstream industry trends, business development needs, and corporate development strategies, and has undergone thorough feasibility studies. However, during the project implementation, there was a temporary mismatch in supply and demand in the downstream photovoltaic industry. Considering the economics of photovoltaic power generation and the gradual reduction of overcapacity in the industry, the photovoltaic industry still has significant growth potential in the medium to long term, which will bring continuous business opportunities to photovoltaic equipment manufacturers. Against this backdrop, to ensure the steady implementation of the company’s fund-raising projects, reduce the risk of using raised funds, and ensure the safe and rational use of funds, the company, based on the current actual progress of the project and without changing the investment direction, implementation entity, or implementation method of the fund-raising projects, has slowed down the construction pace and postponed the aforementioned fund-raising projects.
Leadmicro stated that the postponement of the fund-raising projects was a prudent decision made by the company based on the actual situation and investment progress of the projects. It only involves changes to the project schedule and does not alter the investment direction, implementation entity, or implementation method of the fund-raising projects. Therefore, it will not have a substantial impact on the implementation of the fund-raising projects and will not change or alter the use of raised funds in disguised form or harm shareholders’ interests.
