Zhiyuan New Energy Terminates Hydrogen Equipment Manufacturing Fundraising Project
Changchun Zhiyuan New Energy Equipment Co., Ltd. has announced the termination of its 'Intelligent Manufacturing Project for Hydrogen Energy Equipment,' despite achieving 27.10% progress on a planned investment of RMB 98,758,900. The company will permanently allocate the remaining RMB 73,368,300 raised to supplement its working capital. The decision is influenced by the project's focus on hydrogen energy technology for heavy-duty trucks, which aligns with national policies promoting hydrogen fuel cell vehicles.
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On January 14, Changchun Zhiyuan New Energy Equipment Co., Ltd. announced the termination of the 'Intelligent Manufacturing Project for Hydrogen Energy Equipment.' The company will permanently use the remaining raised funds of RMB 73,368,300 to supplement working capital.
The project, which planned to invest RMB 98,758,900, had seen a cumulative investment of RMB 26,763,700, achieving 27.10% progress. The production line, with a capacity of 10,000 hydrogen storage cylinders annually, has passed necessary regulatory appraisals and obtained relevant manufacturing licenses. The termination is attributed to the project's nature as a research initiative in hydrogen energy technology for heavy-duty trucks, which aligns with national policies supporting hydrogen fuel cell vehicles.
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