On January 3rd, Jinshi Data reported that Runyang Technology announced the termination of the company’s initial public offering (IPO) stock issuance investment project, the ‘Intelligent Warehousing Center Construction Project’. This matter does not constitute a related party transaction and still needs to be submitted to the company’s shareholders’ meeting for deliberation. The project has used 45.7 million yuan of the raised funds, with a remaining payment of 8.7769 million yuan and a balance of 32.1668 million yuan of raised funds. The reason for termination is the change in the market environment. The existing storage capacity in the Huzhou area can already meet the demand. The construction of the new intelligent warehousing center, according to the original design capacity, no longer meets the actual demand. The remaining raised funds will continue to be deposited in the corresponding special account for the raised investment project, and the specific usage plan will be determined based on the actual situation.
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