Titan Technology (688133) announces the second postponement of the 774 million yuan Life Science Headquarters Park project to March 2027.

Shanghai Titan Technology Co., Ltd. (Stock Code: 688133,简称 “Titan Technology”) announced today that the company’s board of directors has approved a further 12-month extension of the scheduled usable date for the “Titan Technology Life Sciences Headquarters Park Project,” adjusting it from the original plan of March 2026 to March 2027. This is the second adjustment after the project’s first delay in August 2024.

Details and Background of the Project Delay

In 2022, Titan Technology raised net funds of 985 million yuan through a targeted issuance of A-shares, with 774 million yuan allocated specifically to the “Titan Technology Life Sciences Headquarters Park Project.” The original plan was for the project to reach its scheduled usable state by March 2025. It was first delayed to March 2026 in August 2024, and this is the second delay.

The announcement shows that as of February 28, 2026, the project has invested a total of 554 million yuan of raised funds, with an investment progress of 71.59%. The company stated that the delay was mainly due to construction progress being affected by review processes and weather conditions, as well as equipment procurement delays caused by price fluctuations and supplier capacity constraints.

Use of Raised Funds

As of February 28, 2026, the use of raised funds by the company is as follows:

Note: The excess investment in the supplementary working capital project is mainly due to interest income.

History of Project Delays

The project has experienced two delays:

Company and Sponsor Opinions

Titan Technology emphasizes that this delay only involves project schedule adjustments and does not change the investment content, total investment amount, or the implementing entity of the raised funds, nor will it have a substantial adverse impact on project implementation. The company will strengthen overall planning for the use of raised funds, actively coordinate internal and external resources, and promote the project to be completed as scheduled.

CITIC Securities Co., Ltd., the company’s sponsor, has issued a clear and unopposed verification opinion on this delay, stating that the necessary review procedures have been followed, and it complies with relevant laws and regulations. There is no change or covert change in the use of raised funds.

This delay has been approved at the 23rd meeting of the company’s 4th Board of Directors and does not require shareholder approval.

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