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On July 31, Fine Extrusion Technology announced that during its 19th meeting of the fifth board of directors held on July 30, the "Proposal on Concluding the Raised Capital Funded Project and Permanently Replenishing Working Capital with Surplus Raised Funds" underwent thorough review and was subsequently approved. With the "Industrialization Project of Electric Drive Transmission Components for New Energy Vehicles" having successfully achieved its Pre-order Availability Status (a predetermined operable state), the company has opted to conclude the project. The surplus raised funds, totaling RMB 11.4382 million (the final amount will be confirmed based on the bank settlement balance on the day of fund transfer), will be permanently allocated to replenish working capital.
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