Zhixin Co., Ltd. (603352) Deliberates and Passes Fund Placement Substitution Proposal to Replace Self-Raised Funds That Were Pre-invested

Chongqing Zhixin Industrial Co., Ltd. (Stock Code: 603352, Stock Abbreviation: Zhixin Co., Ltd.) announced the resolution of the 18th meeting of the first board of directors on March 23, 2026, approving the proposal to use raised funds to replace pre-invested project funds and paid issuance expenses with self-raised funds.

The announcement states that the 18th meeting of the first board of directors was held on-site in the company’s conference room on March 23, 2026. The meeting notice was sent to all directors via email on March 20, 2026. The meeting was convened and chaired by Chairman Chen Zhiyu. Six directors were expected to attend, and all six attended. The procedures for convening, holding, and voting at the meeting complied with relevant laws, regulations, and the company’s articles of association.

During the review, the proposal to use raised funds to replace pre-invested project funds and paid issuance expenses with self-raised funds was approved unanimously, with 6 votes in favor, 0 against, and 0 abstentions. This proposal had previously been reviewed and approved by the Audit Committee of the first board of directors at its second meeting in 2026. Shenwan Hongyuan Securities Underwriting and Sponsoring Co., Ltd., the sponsor, issued an unqualified verification opinion on this matter.

The company stated that the specific details of this fund replacement are disclosed in the announcement titled “Chongqing Zhixin Industrial Co., Ltd. on Using Raised Funds to Replace Pre-invested Project Funds and Paid Issuance Expenses with Self-raised Funds” published on the Shanghai Stock Exchange website on the same day (Announcement No.: 2026-011).

The approval of this fund replacement proposal will help optimize the company’s capital structure, improve the efficiency of using raised funds, and ensure the smooth progress of the project.

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