Junda Co. Terminates 5GW Battery Project in Oman, Changes H-shares Fundraising Purpose

Junda Co. has decided to terminate its project for a 5GW high-efficiency battery production base in Oman due to significant changes in the external operating environment and project implementation conditions. The project has not yet commenced substantial construction, with minimal initial investment, and the land lease contract has been negotiated for termination. The remaining balance of HKD 963 million from the H-shares fundraising originally planned for this project will be repurposed for research and development of photovoltaic battery products, technology upgrades, production line renovations, strategic procurement of raw materials, and to supplement working capital. The change in the use of raised funds needs to be submitted for approval at the company's shareholders' meeting.

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