Kingfore Energy: Plans to change the use of RMB 58 million raised funds to the construction project of a comprehensive energy technology research and development and industrialization base

Kingfore Energy announced that the company plans to change the use of RMB 58 million of raised funds from the "Research and Development Center and Heating Operation Control Platform Construction Project" to the "Comprehensive Energy Technology Research and Development and Industrialization Base Construction Project." This move aims to maximize the effectiveness of the raised funds. The company's board of directors has authorized the chairman or his authorized personnel to handle the relevant bank special account matters. This change still needs to be submitted to the company's shareholders' meeting for review. Both the supervisory board and the sponsoring institution believe that the change is reasonable and compliant, in line with the company's actual development needs. The project is expected to invest RMB 58 million, with a post-tax financial internal rate of return of 26.46% and a post-tax static investment payback period of 7.14 years, demonstrating significant economic benefits