Anjoy Food disclosed the use of raised funds for 2025, with multiple projects delayed and some investment projects changed.

Zhongfang.com Data  Yanyi Food Group Co., Ltd. (stock code: 603345) today disclosed a special report on the deposit, management, and actual use of proceeds from fund-raising for the year 2025. The report shows that, as of December 31, 2025, the net proceeds from the Company’s 2022 non-public offering of shares were RMB 5.635 billion, with RMB 4.452 billion cumulatively invested into the projects under the offering. The balance of the proceeds at the end of the period (including cash management) was RMB 1.388 billion. In 2025, the Company actually used RMB 569 million of the fund-raising proceeds, mainly for the construction of multiple production bases and technical renovation projects.

During the reporting period, the Company adjusted some of the projects under the offering. Among them, it transferred a total of RMB 361 million of the portion of unutilized fund-raising proceeds from the “Sichuan Yanyi Technical Renovation Project,” “Liaoning Yanyi Technical Renovation Project,” “Taizhou Yanyi Technical Renovation Project,” and the “Henan Phase III Project” to newly established the “Dingyifeng New Construction Baking Bread Project.” In addition, the Company’s board of directors has approved extending the construction timeline of the “Informatization Construction Project” to December 2026.

In terms of capital management, in 2025 the Company continued to use idle fund-raising proceeds for cash management, mainly investing in products with high safety and good liquidity such as structured deposits, large certificates of deposit, and notice deposits. During the year, it achieved net cash management gains and interest income of approximately RMB 33.22 million, effectively improving the efficiency of fund utilization.

Multiple projects under the offering have gradually commenced production or entered the trial production stage, such as Guangdong Yanyi, Shandong Yanyi, and Henan Phase III, etc. However, some projects, such as the “Taizhou Phase III Expansion Project” and the “Xiamen Factory Phase III Project,” have not yet reached the planned progress or are still under construction. The Company stated that it will proceed according to market conditions and the actual advancement of the projects. The recommending institution, CICC Investment Securities, and the auditing institution, Lixin Certified Public Accountants, have both issued non-objection verification opinions and assurance reports on the Company’s deposit, management, and use of fund-raising proceeds in 2025.

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