St Gaosheng (000971): Plan To Terminate Some Projects Invested By Raised Funds

St Gaosheng (000971) announced on the evening of June 7 that the 5th meeting of the 10th board of directors and the 3rd meeting of the 10th board of supervisors held on June 6, 2022 respectively deliberated and passed the proposal on terminating part of the raised investment projects and permanently replenishing the remaining raised funds to the working capital. The company intends to terminate the acquisition of equity project of Shenzhen innovation cloud sea Technology Co., Ltd. (hereinafter referred to as "innovation cloud sea"), terminate the implementation plan of Shenzhen Yantian phase II data center investment project, and permanently replenish the working capital with the remaining raised funds and interest income of the above two projects.

After the above two projects are terminated, the balance of the special account for raised funds is expected to be about 97.28 million yuan (the balance includes the interest generated from the bank deposits of the raised funds and the amount of advance payment to be recovered).