Jucan Optoelectronics adjusts internal structure of two major fundraising projects, optimizing 210 million yuan in construction investment

On March 20, Jucan Optoelectronics Technology Co., Ltd. (securities code: 300708) released an announcement stating that at the 16th meeting of the fourth session of its board of directors, the board reviewed and approved the “Resolution on Adjusting the Internal Investment Structure of the Fundraising Projects,” deciding, without changing the total amount of the raised funds, the implementation entity, or their intended use, to optimize and adjust the internal investment structure of the “Mini/Micro LED chip R&D and manufacturing expansion project” and the “2400,000 units per year red and yellow light epitaxial wafer and chip project.”

Review of the Basic Situation of the Raised Funds

The announcement shows that Jucan Optoelectronics raised net proceeds of 1.08155 billion yuan in 2023 through a private placement of shares to specific parties. As of January 31, 2026, the company has cumulatively投入 (invested) 883.45 million yuan of the raised funds, with an overall usage progress of 81.68%. The specific investment details of the two major fundraising projects are as follows:

Details of the Adjustment to the Investment Structure of the Two Projects

Mini/Micro LED chip project: Reduce project engineering construction investment by 210 million yuan

According to the announcement, the company decided to optimize the “Mini/Micro LED chip R&D and manufacturing expansion project.” The originally designed Suqian plant facilities would no longer be built separately; instead, the project will be carried out by leveraging the company’s existing plant capacity. Therefore, the project’s total investment amount was reduced from 1.55 billion yuan to 1.34 billion yuan, with a reduction amount of 210 million yuan, mainly due to a decrease in engineering construction costs. The specific adjustments are as follows:

• | | 2 | Engineering construction | 45,911.21 | 24,911.21 | -21,000.00 | | 3 | Contingency reserve | 754.20 | 754.20 |
• | | 4 | Working capital for initial stocking | 1,000.00 | 1,000.00 |
• | | Total | | 155,000.00 | 134,000.00 | -21,000.00 |

Red and yellow epitaxial wafer project: Structural adjustment to equipment procurement and engineering cost components

Regarding the “2400,000 units per year red and yellow light epitaxial wafer and chip project,” the company, through updates to its process flow and upgrades to equipment automated assembly, saved part of its equipment procurement costs. At the same time, due to an increase in actual engineering construction needs, it decided to reduce the equipment procurement costs by 177.708 million yuan, and correspondingly increase engineering construction and other expenses by 177.708 million yuan. The project’s total investment amount remains unchanged at 1.05 billion yuan. The specific adjustments are as follows:

• | | 4 | Working capital | 8,000.00 | 8,000.00 |
• | | Total | | 105,000.00 | 105,000.00 |
• |

The Adjustment Will Not Affect Project Implementation; Board of Directors and Audit Committee Agree

The company stated that this adjustment is a prudent decision made based on the actual implementation circumstances of the fundraising projects. It is intended to fully leverage existing resources, optimize the investment structure, and improve the efficiency of using the raised funds. After the adjustment, the implementation entity, the intended use of the raised funds, and the total amount will not change, it will not have any substantive impact on the project plan, and there is no situation involving a disguised change in the direction of the raised funds or harm to shareholders’ interests.

The audit committee believes that this adjustment complies with relevant provisions such as the “Regulatory Rules for Raised Funds of Listed Companies” and the “Company Charter,” and is beneficial for advancing the implementation of the company’s strategy and long-term development. The board of directors also approved this adjustment plan, believing it is a reasonable coordination and scientific arrangement for the construction of the fundraising projects.

After this adjustment, Jucan Optoelectronics will continue to advance the construction progress of the two fundraising projects, further strengthening its technical advantages and capacity planning in the fields of Mini/Micro LED and red and yellow epitaxial wafers and chips.

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