February 9 — Sineng Electric released an announcement declaring that the company has reviewed and passed the Proposal on Using Raised Funds to Replace Self-Raised Funds Previously Invested in Fundraising Projects and Paid Issuance Expenses. The company has agreed to use the proceeds from its share issuance to replace the self-raised funds already invested in designated projects, as well as issuance expenses that have already been paid.
According to the disclosure, Sineng Electric previously issued approximately 52.3365 million RMB ordinary shares (A-shares) to specific objects at an issuance price of 31.50 RMB per share. The total amount raised was approximately 1.649 billion RMB. After deducting issuance expenses (excluding tax), the net proceeds amounted to approximately 1.638 billion RMB. These funds were transferred to the company's designated account on December 31, 2025.
To ensure the smooth implementation of the fundraising investment projects, Sineng Electric made advance investments using self-raised funds before the raised capital arrived. As of December 31, 2025, the actual pre-investment made by the company using self-raised funds—and the amount proposed for replacement this time—totals approximately 286 million RMB.
The specific breakdown of the replacement is as follows:
Furthermore, the company had already paid certain issuance expenses using self-raised funds before the proceeds arrived, and these are also included in the proposed replacement. This involves a total of 655,000 RMB, primarily covering legal fees, issuance procedures, and other related costs.
Source：EnergyTrend