Clete plans to utilize no more than 190 million yuan of idle raised funds for cash management.

[Finance Network News] Weihai Kletefiel Fan Co., Ltd. (Stock Code: 920689, Stock Abbreviation: Klete) announced on March 17th that to improve the efficiency of idle raised funds, the company plans to use up to 190 million yuan of temporarily idle raised funds for cash management, investing in high-security, highly liquid financial products.

Basic Information on Raised Funds and Current Usage

The announcement shows that Klete issued 2 million convertible bonds to specific targets on February 9, 2026, at a price of 100 yuan per bond, raising a total of 200 million yuan, with a net amount of 195,252,830.21 yuan actually raised, which was received on February 13, 2026.

As of March 7, 2026, the company’s use of raised funds is as follows:

Meanwhile, the company’s storage of raised funds (net of interest income minus fees) is as follows:

Cash Management Plan Details

Klete stated that since construction of the investment projects requires a certain period, some raised funds will be temporarily idle for a period. To improve capital utilization, the company plans to use no more than 190 million yuan of idle raised funds to invest in high-security, highly liquid products such as bank fixed-term deposits, notice deposits, negotiated deposits, large deposits, structured deposits, or principal-protected financial products.

Within this limit, funds can be used cyclically, with investment periods not exceeding 12 months. This resolution is valid for 12 months from the date of approval by the company’s shareholders’ meeting. If a single product’s term exceeds this period, the validity of the resolution will automatically extend until that transaction matures.

Decision Procedures and Risk Control

The announcement discloses that this cash management matter has been approved at the Ninth Meeting of the Fifth Board of Directors, the Fifth Meeting of the Fifth Independent Directors, and the Eighth Meeting of the Fifth Audit Committee. It still requires approval at the company’s first extraordinary general meeting in 2026. The board authorizes the chairman to exercise relevant investment decision-making powers and sign related documents, with the financial officer responsible for specific organization and implementation.

To manage investment risks, the company will implement multiple control measures, including strict decision-making and management according to the “Fundraising Management System,” timely tracking of investment product progress, regular reporting on fund usage to the board, and supervision by independent directors and the audit committee.

Impact on the Company and Sponsor Opinions

Klete emphasizes that this cash management will not covertly change the use of raised funds nor affect the implementation of the fundraising projects. Through moderate cash management, the company aims to improve capital efficiency and generate more returns for shareholders.

The company’s sponsor, Zhongtai Securities Co., Ltd., believes that this use of part of the idle raised funds for cash management has undergone necessary review procedures, complies with relevant laws, regulations, and the company’s articles of association, and will not affect the normal progress of fundraising projects. There is no change or covert change in the use of raised funds or harm to the interests of the company and shareholders. They have no objections to this matter.

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