Yowant Technology plans to terminate two fundraising projects, with remaining funds to be supplemented pending shareholder meeting approval

On September 9, 2025, Yowant Technology announced that its sixth board of directors' seventh meeting and the fifth supervisory board's thirty-third meeting approved the termination of the "YOWANT Digital Marketing Cloud Platform Construction Project" and the "Innovation Technology Research Institute Construction Project" for the non-public issuance of A-shares in 2020. The remaining raised funds will be permanently supplemented to working capital, and this matter needs to be submitted to the shareholders' meeting for deliberation. As of August 31, 2025, the adjusted fundraising investment amount for the two projects is 1,290,853.9 thousand yuan, with a cumulative investment of 544,835.5 thousand yuan and a remaining amount of 766,024.5 thousand yuan. The reason for termination is that the iteration of AI technology makes it difficult for the original planned software and hardware to meet the demand, and the company's business focus has shifted to social e-commerce and self-operated brands