In a recent announcement, Haoen Auto Electric revealed that on July 22, the company convened a board meeting and opted to modify the capital allocation for its fundraising endeavors, taking into account the net proceeds garnered from the issuance of shares to targeted investors. The actual net funds raised in this instance amount to 1.033 billion yuan, slightly below the initially projected sum of 1.046 billion yuan. Following this adjustment, the investment figures for Haoen Auto Electric's two projects situated in Shenzhen and Huizhou remain unaltered. However, the financial allocation for the R&D center's upgrade and construction initiative has been revised from 270 million yuan to 257 million yuan. Haoen Auto Electric will independently secure the shortfall in funds, ensuring that the execution of the projects remains unimpeded. Furthermore, the sponsoring institution has expressed no reservations regarding this adjustment.