Ligong Navigation Plans to Allocate 120 Million Yuan in Idle Raised Funds for Cash Management to Improve Fund Utilization Efficiency

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Beijing Institute of Technology Navigation Control Technology Co., Ltd. (Stock Code: 688282, Stock Abbreviation: Lige Navigation) announced on March 20, 2026, that the company plans to use no more than 120 million yuan of temporarily idle raised funds for cash management to improve the efficiency of fund utilization and increase shareholder returns. The matter has been approved by the company’s board of directors, and the sponsor, China International Capital Corporation, has issued an unqualified verification opinion.

Key Points of the Cash Management Plan

The announcement shows that the investment products for this cash management will be strictly limited to high-security, highly liquid, principal-protected products, including structured deposits, notice deposits, fixed deposits, large-denomination certificates of deposit, and agreement deposits, which are principal-protected. These funds cannot be used for pledging or securities investment purposes. The funds can be used within 12 months starting from March 21, 2026, and within this limit and period, the funds may be cycled and reused.

The company’s board of directors has authorized the chairman or management to handle relevant matters and sign documents based on actual conditions, with the finance department responsible for specific implementation. The income obtained will be prioritized for supplementing the investment shortfall of the raised projects and for the company’s daily operating liquidity, strictly managed and used in accordance with regulatory requirements.

Basic Information on Raised Funds and Usage Progress

Lige Navigation completed its initial public offering on March 14, 2022, raising a total of 1,434.62 million yuan, with a net amount of 1,254.48 million yuan, of which the oversubscription funds amounted to 615.99 million yuan. As of December 31, 2025, the cumulative investment progress of each raised project is as follows:

The company states that this cash management will not affect the normal implementation of the raised projects.

Past Cash Management Performance and Risk Reminder

The announcement discloses that in the past 12 months, Lige Navigation’s actual income from cash management using raised funds was 689,300 yuan, with a maximum single-day investment amount of 120.11 million yuan, accounting for 9.38% of the latest year’s net assets and 2,650.35% of the latest year’s net profit (absolute value). Currently, the total investment limit for the company’s raised funds cash management is 130 million yuan, with 107.09 million yuan used and 22.91 million yuan remaining.

Although the company has chosen low-risk principal-protected products, investors are still reminded to pay attention to systemic risks that may arise from macroeconomic influences on the financial market. The company will ensure the safety of raised funds through strict internal controls, real-time monitoring and evaluation, and supervision by independent directors, preventing any covert changes in the use of raised funds.

Intermediary Institution Opinions

CICC, the sponsor, believes that Lige Navigation has completed the necessary approval procedures for this cash management, complies with relevant laws, regulations, and company policies, and there is no covert change in the use of raised funds. It is conducive to improving fund utilization efficiency and aligns with the interests of the company and all shareholders. No objections are raised.

The implementation of this cash management plan is a reasonable arrangement by Lige Navigation to utilize idle funds while ensuring the smooth progress of the raised projects. It is expected to have a positive impact on the company’s overall performance level. The company will fulfill its information disclosure obligations in a timely manner according to regulatory requirements.

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