Meichang Co., Ltd. Proposes to Use 2.3342 Million Yuan of Raised Funds to Replace Self-Raised Funds for Funded Investment Projects

MaticHoleFiller · 2026-03-23T20:08:39+00:00

Yangling Meichang New Materials Company held a board of directors meeting on March 18th, which passed a resolution approving the use of 2.3342 million yuan in raised funds to replace self-raised funds that have been invested in the fundraising projects. The meeting was legally valid, all directors were present, and both the replacement amount and timing comply with relevant regulatory requirements.

MaticHoleFiller

2026-03-23 20:08:39

Abstract generation in progress

On March 18, Yangling Meichang New Materials Co., Ltd. (Stock Code: 300861, Stock Name: Meichang Shares) announced the resolution of the 16th meeting of the third board of directors, approving the proposal to use raised funds to replace self-raised funds already invested in the fundraising project. The company agreed to use 2.3342 million yuan of the raised funds to replace the self-raised funds previously invested in the project.

The announcement states that the 16th meeting of the third board of directors was held on March 18, 2026, at the company conference room in Fuhai Industrial Park, Wehui Road East Section, Yangling Demonstration Zone, Shaanxi Province, via a combination of on-site and video conference. There were 7 directors present out of 7, with Vice General Manager Liu Haitao, CFO, and Board Secretary Zhou Xiang attending as observers. The meeting was chaired by Chairman Liu Haiying. The convening of the meeting complied with relevant laws, regulations, rules, and the company’s articles of association, making the meeting legal and valid.

After review, the board agreed to use the raised funds to replace the self-raised funds invested in the fundraising project from October 2025 to February 2026, with a proposed replacement amount of 2.3342 million yuan. The announcement notes that this replacement will occur within 6 months after the self-raised funds are paid, in accordance with relevant regulations.

Review Item	Voting Result	Proposed Replacement Amount	Replacement Period
Proposal on using raised funds to replace self-raised funds invested in the fundraising project	Approved 7 votes, 0 against, 0 abstain	2.3342 million yuan	October 2025 to February 2026

The company states that detailed information can be found in the announcement titled “Announcement on Using Raised Funds to Replace Self-Raised Funds Invested in the Fundraising Project” published on the Juchao Information Network on the same day (Announcement No.: 2026-007).

Click to view the original announcement >>

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