Hongchang Technology: Intends to permanently supplement working capital with the remaining raised funds of 38.17 million yuan.

Announcement from Hong Chang Technology: The 11th meeting of the Third Board of Directors of the Company approved the proposal to close the "Electronic Water Pump and Injection Molding Industrialization Project" and to use the remaining raised funds of 38.1767 million yuan to permanently supplement working capital for daily operations. The project has reached the intended usable state, with a cumulative investment amount of 217 million yuan, accounting for 80.36% of the total committed investment of the raised funds. The remaining funds will improve the efficiency of fund utilization, and payments for pending contracts such as final payments and warranty fees will be made using self-owned funds. This matter still needs to be submitted to the Company's Shareholders' Meeting for review.