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On the evening of August 10, Jingyuntong issued a statement stating that due to the fact that the necessary approval procedures for the 10GW high-efficiency monocrystalline silicon rod project in Wuhai had not yet been obtained, the company was unable to start construction as planned, which resulted in a delay in the project’s progress. In order to improve the efficiency of using the raised funds, further advance the company’s capacity expansion plans, and meet the needs of its business development, the company intends to use the amount of 209,007.40 million yuan – which corresponds to 83.94% of the net amount of the raised funds, after deducting the issuance costs – along with any related interest, to fund the “Leshan 22GW High-Efficiency Monocrystalline Silicon Rods and Wafers Project”. The original project was implemented by Wuhai Jingyuntong New Energy Co., Ltd., while the new project is carried out by Leshan Jingyuntong Semiconductor Materials Co., Ltd.; both are wholly-owned subsidiaries of the company. The original project was located in the Haibowan Industrial Park, Wuhai City, Inner Mongolia Autonomous Region, while the new project is situated in the New Industrial Base in Wutongqiao District, Leshan City, Sichuan Province. The original project had a construction period of two years, with an expected commissioning date of January 2023 ； The expected start date for the new project is delayed to December 2023 compared to the original plan. The change and delay in the investment projects for the funds raised this time do not constitute related-party transactions. Investment plan for the new project: The total investment in this new project amounts to 536,352 million yuan, of which 415,960 million yuan is allocated to construction costs, and 120,392 million yuan is intended for working capital. Apart from using the aforementioned unused balance of raised funds amounting to 215,086.82 million yuan (including interest income), the remaining funds for investing in new projects will be sourced from the company’s own funds (including but not limited to equity capital, bank loans, or the introduction of other investors on the condition that control over the entities carrying out the new projects is not lost).