Zhaofeng Co., Ltd. has made a public announcement stating its intention to reallocate a segment of the unutilized funds, originally earmarked for the 'Annual Production of 300,000 Units of Onboard Electronic Control Systems for New Energy Vehicles Construction Project,' towards the 'Industrialization Project of Embodied Intelligent Robots and High-End Precision Components for Automotive Intelligent Driving.' To date, the initial project has successfully deployed RMB 25.7358 million from the raised capital. Following this adjustment, the residual funds will be prioritized for utilization, with any financial gaps being bridged through the company's internal resources or additional self-generated funds. The new project carries a total investment tag of RMB 1,526.27 million, out of which RMB 100 million is slated to be sourced from the reallocated funds, while the balance will be procured via the company's internal finances or other self-raised capital.
