WellCell reallocates RMB11.00 million of IPO funds to ICT projects and debt repayment

WellCell Holdings Co., Limited has revised the deployment of its remaining initial public offering proceeds, diverting RMB11.00 million that was originally earmarked for project-management hiring toward information and communication technology (ICT) integration projects and partial bank-debt repayment.

Key details • Total IPO net proceeds: RMB56.00 million • Cumulative utilisation to date: RMB39.30 million • Unutilised balance before the change: RMB16.70 million

Revised allocation 1. ICT integration projects: RMB8.00 million, targeted for full utilisation by end-2027. 2. Bank-loan repayment: RMB3.00 million, expected to be fully applied by end-2026.

Impact on original plan • The RMB11.00 million shift eliminates the budget previously assigned to “expand manpower in project management.” • All other funding-use categories—R&D (RMB5.70 million unutilised), sales and marketing, and general working capital—remain unchanged.

Management rationale The board cited ongoing investment needs in ICT integration and the desire to enhance financial flexibility as primary reasons for the reallocation, judging the revised deployment to be more closely aligned with current operational priorities and market conditions.

Following the adjustment, WellCell retains an unutilised IPO balance of RMB16.70 million, which is now fully allocated with clear timelines for disbursement through 2027.