Tianyang New Materials: Intends to change the use of some of the raised funds and terminate two photovoltaic projects ahead of schedule.

Tianyang New Materials announced that the company will privately issue stocks in 2022, with an actual net fundraising amount of 967 million yuan. In February 2025, the company terminated further investment in the "Kunshan Tianyang Photovoltaic Film Project" and used the remaining funds to permanently supplement working capital. In May of the same year, the "Nantong Tianyang Solar Encapsulation Film Project" and the "Haian Tianyang Photovoltaic Film Project" were postponed to June 2026. As of November 30th, the two projects have already invested 249 million yuan and 94 million yuan respectively, with remaining balances of 71.6124 million yuan and 212 million yuan. Due to the current situation in the photovoltaic industry, the company plans to terminate the two projects early, and the remaining funds will be invested in new projects after paying final payments. This matter has been approved by the board of directors and still requires approval from the shareholders' meeting.