CATL: Intends to change the use of the 4.8 billion yuan raised funds to the Xiamen battery project.

Ningde Times announced that, as of February 28, 2026, the company has invested 39.369 billion yuan in funds raised from the issuance of shares to specific objects, with a remaining balance of 6.859 billion yuan. The company plans to use the uninvested 4.8 billion yuan from the "Guangdong Ruiqing Times Lithium-ion Battery Production Project Phase I" fundraising for the "Times New Energy Xiamen Battery Industry Base Project", with the shortfall being supplemented by self-owned or self-raised funds. The total investment of this project will not exceed 8.061 billion yuan, with an expected annual net profit of 3.753 billion yuan and an internal rate of return of 20.89%. This proposal has been approved by the board of directors and is still pending approval by the shareholders' meeting.