Hengdong Guang Raises Net Amount of 278 Million Yuan, Funding Adjusted Downward for All Four Portfolio Projects

【Shenzhen News】On March 23, Hengdong Optical Communication Technology (Shenzhen) Co., Ltd. (Stock Code: 920045, Stock Name: Hengdong Optical) announced that due to actual net funds raised being lower than expected, the company has decided to adjust the planned investment amounts for four fundraising projects. After adjustment, the total investment amount is 277.8784 million yuan, a reduction of approximately 43.7% from the original plan of 493.6329 million yuan.

The announcement shows that on December 23, 2025, the company publicly issued 10.25 million shares at 31.59 yuan per share to unspecified qualified investors, raising a total of 324 million yuan. After deducting related expenses, the actual net amount was 278 million yuan. Due to a funding shortfall of about 216 million yuan compared to the planned 494 million yuan, the company has reallocated funds based on the actual situation of each project.

From the adjustment, all four fundraising projects have been reduced to varying degrees. The Guilin manufacturing base expansion (Phase III) saw the largest reduction, from 210 million yuan to 96 million yuan, a decrease of 114 million yuan. The Headquarters Optical R&D Center construction was reduced from 114 million yuan to 50 million yuan, a decrease of 64 million yuan. The Vietnam production base expansion decreased from 100 million yuan to 72 million yuan; working capital supplement decreased from 70 million yuan to 60 million yuan.

The company stated that this adjustment is based on the actual receipt of funds and operational development needs. It does not involve adding or reducing investment projects and will not affect the normal implementation and expected results of the fundraising projects. The shortfall in investment funds for the projects will be supplemented by the company’s own or self-raised funds.

This proposal was approved at the company’s second board of directors’ audit committee meeting and the fourth meeting of the second board of directors on March 20, 2026, and does not require shareholder approval. The sponsor, China Merchants Securities, issued a verification opinion, stating that the adjustment has followed necessary approval procedures, complies with relevant laws and regulations, and does not involve covert changes to the use of raised funds or harm shareholders’ interests. They have no objections to this matter.

The fundraising adjustment reflects the company’s flexible response to changes in actual financing scale. Investors should continue to monitor the progress of project construction and fund supplementation.

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