Announcement on behalf of subsidiary FII
No:1
Subject: Subsidiary, Foxconn Industrial Internet Co., Ltd. approval of adjustments, changes and extensions of investment projects with some raised funds
Date of events:2024/04/29
Contents:
1.Date of the board of directors resolution for the change:2024/04/29
2.Effective registration date of the original plan: NA
3.Resolution date of additional issuance of the original plan: NA
4.Reason for the change:
The company's internal and external situations are determined based on the actual implementation of fundraising investment projects., examines the raised investment projects one by one, adjusts the total investment or investment details of the project, and adjusts the project construction period in combination with the actual situation.
5.Content of each and every successive previously changed plan for raising of funds before and after change:
(1) The net proceeds raised from the IPO amounted to RMB 26.716 billion, which were invested in the direction of smart manufacturing and industrial Internet. The board of directors decided on March 29, 2021, to extend the completion of certain projects by two years and others by three years.
(2) The adjustments made primarily concern the amounts of each project and their construction periods. The HAINING INTEGRATION has been extended until December 2026, with a reduction of RMB 100 million in the fundraising amount. The HANGZHOU INTEGRATION has also been extended until December 2026. However, the fundraising amount for the project in SHENZHEN FUGUI has been increased by RMB 100 million. The overall investment direction and total investment amount remain unchanged.
6.Projected timetable for execution:
After this change, some projects will be completed one year later due to the postponement.
7.Projected completion date: December 2026.
8.Projected possible benefits:
By applying new technologies to the factory for intelligent transformation, we aim to enhance the production and processing capacity for orders. Simultaneously, we will increase investment in innovation and development to elevate our competitiveness within the industry.
9.Difference from original projected benefits:
There are individual differences with the expected benefit of the original raised investment project, and there is no difference in the whole.
10.Effect of the current change on shareholder equity:
This change is to continue to focus on the main business, and fine tune the plan based on the actual situation of the project implementation, which has no significant impact on the shareholders' equity.
11.Abstract of the original lead underwriter's appraisal opinion:
The former sponsor, China International Capital Corp, believes that the adjustments, changes, and extensions made to this portion of the raised investment project are necessary adaptations by the company in response to changes in the external operating environment, strategic development requirements, and the objective needs of implementing the raised investment projects. These adjustments aim to better ensure the smooth implementation and stable operation of the raised investment project, while also serving the interests of the company and all shareholders. The modifications to the company's raised investment projects have been carefully considered and approved by the board of directors and the board of supervisors. While the submission for approval at the company's 2023 annual shareholders' meeting is still pending, the procedures adhere to relevant regulations governing the management of raised funds for listed companies. Therefore, the sponsor underwriter has no objection to the company's project changes and extensions.
12.Any other matters that need to be specified: None
No:2
Subject: Subsidiary, Foxconn Industrial Internet Co., Ltd., announces of change accounting policy since January 1, 2024.
Date of events:2024/04/29
Contents:
1.Date of board of directors resolution: NA
2.Nature of the change: Change in accounting policy
3.Reason for the change:
In accordance with the Notice of the Ministry of Finance of China on the Issuance of《Interpretation 〈No. 17 of Accounting Standards〉for Enterprises》(Cai Kuai [2023] No. 21)
4.Each line item affected and the projected effect for the accounting year preceding the accounting year changed by retrospective application of the accounting policy change: None
5.The actual effect on the opening balance of retained earnings for the last accounting year: None
6.If the decided effect is impracticable, specify the reasons why retrospective application is impracticable, and how and from when the accounting policy change will be applied: None
7.If the decided effect is impracticable, the opinion provided by the CPA about the effect of the audit opinion for the accounting year preceding the accounting change: None
8.Opinion expressed by the CPA regarding itemized analysis of reasonableness:
None
9.Objection or reservation opinion from the independent directors: None
10.Countermeasures:
According to the Notice of the Ministry of Finance of China on the Issuance of 《Interpretation 〈No. 17 of Accounting Standards〉 for Enterprises》(Cai Kuai [2023] No. 21), it shall be implemented starting from January 1, 2024.
11.Any other matters that need to be specified:
This change in accounting policies complies with the relevant laws and regulations, and will not have a significant impact on the company's financial statements, operating results and cash flow.
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