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On December 16, Deer disclosed that its fifth board of directors' 17th session, the audit committee's seventh gathering, and the independent directors' special meeting's ninth convocation had all scrutinized and sanctioned pertinent resolutions. The firm has resolved to finalize the previously financed investment endeavor, namely the "Industrialization Initiative for Automotive Electronics (Intelligent Electronic Control System)," and redirect the residual RMB 26.3373 million from the fundraising (inclusive of accrued interest and similar earnings) towards a novel project—the "Technological Transformation Project for Mechatronic Automotive Components." This course of action remains contingent upon the endorsement of the company's shareholders' assembly.
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