Fost Completes RMB 875 Million Idle Fundraising Return, Fulfilling Commitment in Full One Day Ahead of Schedule

【Financial News】Hangzhou Foster Application Materials Co., Ltd. (Stock Code: 603806, Stock Abbreviation: Foster) announced on March 19th that the company completed the repayment of all idle raised funds for temporary working capital one day ahead of schedule, totaling 875 million yuan. The use of funds was strictly controlled within the period approved by the board of directors.

The announcement shows that Foster held the sixth session of the fifth board meeting on March 20, 2025, during which it approved the proposal on the repayment of raised funds and the continued use of raised funds for temporary working capital. It agreed to temporarily use no more than 100 million yuan of idle raised funds from “F22 Convertible Bonds” (Bond Code: 113661) to supplement the company’s working capital, with a usage period from the date of board approval for 12 months, from March 20, 2025, to March 19, 2026.

According to the announcement, the company repaid the last 360 million yuan of raised funds into the dedicated account for raised funds on March 18, 2026, and promptly notified the sponsor institution and sponsor representatives. To date, the company has repaid a total of 875 million yuan of idle raised funds for temporary working capital, with no overdue cases or outstanding amounts.

Foster stated that the temporary use and repayment of raised funds this time strictly complied with relevant laws, regulations, and the company’s fund management system, did not affect the normal progress of the investment projects funded by the raised funds, and there was no covert change in the use of raised funds or harm to shareholders’ interests. The company will continue to reasonably plan funds according to the use plan of the raised funds to ensure the smooth implementation of the investment projects.

It is understood that the “F22 Convertible Bonds” completed the receipt of raised funds on November 28, 2022. The timely repayment of this temporary working capital reflects the company’s good management ability in the proper use of raised funds and lays a foundation for the smooth advancement of subsequent fundraising projects.

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