Confirm the postponement! New energy vehicle components and precision bearing project

Recently, Changzhou Guangyang Bearing Co., Ltd. issued a notice stating that the 15th meeting of the 5th Board of Directors and the 14th meeting of the 5th Board of Supervisors of the company approved the "Proposal on Delaying the Project of Funded Capital Investment", agreeing to extend the date for the project "Annual Production of 65 Million Sets of High-End New Energy Vehicle Key Components and Precision Bearings" to be ready for use from December 31, 2025 to December 31, 2027. Picture

Guangyang Company stated that this fundraising project covers five major categories of high-end products such as "third-generation hub bearing units" for new energy vehicles. Due to the generally long development and production cycles of automotive components, the company focused its efforts on tackling products with higher technical difficulty and longer production periods in the early stage. They completed the scheme design and received customer approval. Picture

Guangyang Company emphasizes that this does not involve changes to the project implementation entity, the investment purpose of the raised funds， or the scale. It will not have a significant adverse impact on the company's overall production and operation. In the future， the company will fully accelerate the construction progress of the project， ensure the efficient use of funds， promote the smooth implementation of the project and quickly bring it into effect.