Xiangxin Technology has released an official announcement, detailing its intention to discontinue the investment project initially funded by the proceeds from the publicly issued convertible corporate bonds in 2020. This project, known as the "Xiangxin Technology Large-Scale High-Quality Precision Automotive Molds and Components Technical Transformation Project," will be terminated. Subsequently, the remaining 118 million yuan of raised funds will be redirected towards another investment project. This project, titled the "Construction Project of Dongguan Energy Storage, Photovoltaic Inverter, and Power Battery Box Production Base," is funded by the capital raised from the private issuance of A-share common stock in 2022. This strategic realignment reflects a judicious choice made by Xiangxin Technology, taking into account the realities of its current raised-fund investment projects, its operational status, and its long-term development blueprint. The overarching goal is to streamline resource allocation and boost the efficiency of raised-fund utilization.