On December 31, EVE Energy issued an announcement stating that the company had held the third meeting of its seventh session of the board of directors, at which the “Proposal on Postponing Certain Fund-Raising Investment Projects” was reviewed and approved. Without any changes to the implementing entity of the fund-raising investment projects, the intended use of the raised funds, or the investment scale, and taking into account the actual construction progress and investment status of the projects, the Company has decided to revise the scheduled date for putting the “21GWh Large-Cylinder Passenger Vehicle Power Battery Project”—a fund-raising project financed by the issuance of convertible bonds to an unspecified group of investors—into service from December 31, 2025, to December 31, 2027. The “21GWh Large-Cylinder Passenger Vehicle Power Battery Project” is primarily focused on building production capacity for high-capacity ternary cylindrical batteries, which will be used as power sources for new energy vehicles. To ensure the rational and secure use of raised funds, EVE Energy adheres to the principle of “prudent advancement and precise investment.” The fundraising investment projects had undergone thorough feasibility studies in the preliminary phase. However, during actual implementation, they were affected by factors such as the delayed receipt of raised funds and real-time changes in the economic environment. Taking into account the need to maintain the advanced level of production equipment and processes over the long term, avoid a concentrated surge in capacity within a short period, and enhance capital efficiency, the company, after careful deliberation, has decided to extend the date on which the aforementioned projects are expected to be ready for use from December 31, 2025, to December 31, 2027. EVE Energy stated that the project’s delay has not altered the project’s objectives, total investment amount, or implementing entity. It will not have a material adverse impact on the company’s normal operations, nor does it involve any change—direct or indirect—to the intended use of the raised funds or any impairment of investors’ interests. The company will strengthen its oversight of project implementation progress to ensure that the project is carried out in accordance with the revised schedule.

The original announcement is as follows: