Lian-Mei Holdings Completes 5 Fundraising Projects; Proposes to Permanently Supplement Working Capital with 42.17 Million Yuan in Surplus Funds

On March 18, Lianmei Quantum Co., Ltd. (Stock Code: 600167, Stock Abbreviation: Lianmei Holdings) announced that the company approved the completion of certain fundraising projects and the permanent replenishment of surplus funds into working capital. The company plans to conclude five fundraising projects and permanently allocate the remaining 42.1747 million yuan of funds to working capital. This proposal is still subject to approval by the company’s shareholders’ meeting.

Five Fundraising Projects Completed, Total Investment of 150 Million Yuan

The announcement shows that the five projects to be concluded are biomass power generation, Shenyang Xinbei Heat Source Renovation, Shenyang Guorun Low-Carbon Heating Environmental Facility Ultra-Low Emission Upgrade, Hunnan New City South Heat Source Cogeneration Regional Environmental Facility Upgrade, and Guohui Environmental Protection New Energy Environmental Facility Renovation.

As of December 31, 2025, all five projects have been completed and are operational, with a planned total investment of 192.5 million yuan, and a total actual investment of 150.3253 million yuan, representing an overall progress of 78.09%.

Surplus Funds Mainly Due to Project Optimization and Cost Control

The announcement discloses that the surplus of 42.1747 million yuan from the concluded projects mainly results from project design optimization, cost control, and some engineering adjustments:

2. Shenyang Xinbei Heat Source Renovation: The cancellation of the cooling tower project (originally planned at 3.5 million yuan) due to energy-saving modifications to the condenser, and the removal of the main pipe replacement project (originally planned at 3 million yuan) after adjusting operational parameters, resulted in a surplus of 651.81 million yuan.

3. Biomass Power Generation: Strict procurement processes, enhanced process control, and audit of settlements reduced unnecessary expenses, saving 4.5255 million yuan.

4. Guohui Environmental Protection New Energy Facility Upgrade: To avoid affecting normal heating, the NOx removal system EPC project was canceled due to disputes with the contractor, resulting in a surplus of 7.7987 million yuan.

5. Hunnan New City South Heat Source Cogeneration Environmental Facility Upgrade: Part of the funds were paid by non-fundraising sources, and some projects remain unsettled, leading to a surplus of 9.8169 million yuan.

It is noteworthy that among the surplus funds, 13.5155 million yuan remains payable as final payments, mainly contractual tail payments and warranty deposits that have not yet met payment conditions. The company states that these will be paid using its own funds or self-raised capital.

Enhancing Fund Utilization Efficiency and Optimizing Financial Structure

Lianmei Holdings stated that permanently replenishing surplus fundraising funds into working capital is a reasonable decision based on project implementation status and the company’s actual operational needs. This will help improve the efficiency of fund use, reduce operating costs, and meet the company’s liquidity requirements.

The announcement shows that in 2017, the company raised a total of 3.87 billion yuan through a private placement of shares, with a net amount of 3.843 billion yuan after issuance costs. As of December 31, 2025, the company’s remaining fundraising balance was 2.564 billion yuan. After using 42.1747 million yuan of surplus funds to replenish working capital, the remaining fundraising funds will continue to be managed according to regulations.

Independent financial advisor Cheng Tong Securities Co., Ltd. has issued an approval opinion, stating that the relevant decision-making procedures comply with the “Regulations on the Supervision of Listed Company Fundraising” and other regulations, and there is no harm to the legitimate interests of the company and all shareholders.

This matter is still subject to approval by the company’s shareholders’ meeting, and subsequent developments will be disclosed in accordance with regulations.

Click to view the original announcement>>

Disclaimer: The market involves risks; investment should be cautious. This article is automatically published by an AI model based on third-party databases and does not represent Sina Finance’s views. All information in this article is for reference only and does not constitute personal investment advice. Please refer to the actual announcement for accuracy. If you have questions, contact biz@staff.sina.com.cn.