Maidi Technology plans to use up to 120 million yuan of idle raised funds for cash management.

[Finance Network News] On March 18, Suzhou Mediston Medical Technology Co., Ltd. (stock code: 603990, stock abbreviation: Meditech) announced that the company’s 4th Board of Directors’ 41st meeting approved the proposal on “Using Part of the Idle Raised Funds for Cash Management,” agreeing to use temporarily idle raised funds not exceeding RMB 120 million for cash management, on the condition that it does not affect the implementation of the raised funds investment projects and the safety of the raised funds. The funds can be rolled over within the above limit, with a validity period of 12 months from the date of the board’s approval.

The announcement indicates that Meditech will invest the idle raised funds in low-risk principal-protected products, such as structured deposits and large-denomination certificates of deposit, with a maximum single term of no more than 12 months (inclusive). The company stated that this move aims to improve the efficiency of raised fund usage, increase the company’s returns, and seek more investment returns for shareholders.

It is understood that Meditech completed a private placement of A-shares in November 2020, raising a total of RMB 727,599,600, with a net amount of RMB 705,379,600. As of December 31, 2025, some funded projects such as the “Regional Critical Illness Collaborative Rescue System Platform Project,” “Internet Cloud Medical Information System Construction Project,” and “Efficient Solar Cell Intelligent Manufacturing Project,” have been completed or terminated, while the “Innovative Product R&D Center Project” and “Product Service Upgrade Project Based on Large Model and AI Technology” have achieved 9.80% and 8.67% completion, respectively, with expected availability times of January 2028 and May 2028. Due to the long construction cycle of the raised funds investment projects, subsequent funding will be based on project advancement, resulting in some temporarily idle raised funds.

The company also disclosed the cash management situation of raised funds for the last 12 months (from March 1, 2025, to February 28, 2026):

Regarding investment risks, Meditech pointed out that the financial market is significantly influenced by the macroeconomy, and it cannot be ruled out that this investment may be affected by market fluctuations, leading to unguaranteed short-term returns. To address this, the company will implement several risk control measures, including strict selection of investment products, real-time tracking of product progress, prohibiting investments in stocks and derivatives, and internal audit supervision.

Meditech emphasized that the use of idle raised funds for cash management will not affect the normal conduct of funded projects and the development of the company’s main business. The profits obtained will belong to the company and will be prioritized for making up insufficient investment amounts for funded projects and daily operational liquidity, and specific situations will be disclosed in a timely manner according to relevant regulations.

The sponsor organization, Shenwan Hongyuan Securities Underwriting & Sponsoring Co., Ltd., has conducted due diligence on this matter, believing that the company’s use of part of the temporarily idle raised funds for cash management has followed necessary decision-making procedures, complies with relevant laws and regulations and exchange rules, can improve fund usage efficiency, and serves the interests of the company and all shareholders. They agreed with the company’s above matters.

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