On May 18, Yongjin shares (603995.SH) issued an announcement that due to the large overall project volume and long construction period of the fundraising project, there are many uncontrollable factors in the project construction process.

The outbreak of the epidemic in early 2020 will affect the project. The construction has caused a certain impact. The commissioning personnel of the supplier cannot enter the country in time, and the procurement and installation of some imported equipment have not been implemented as originally planned, which has delayed the overall completion of the project.

At present, the first production line of the project has been put into operation in early 2021, and most of the second production line, except for imported equipment, is already in the installation and commissioning stage. Taking into account the purchase of imported equipment for the “75,000 tons of ultra-thin precision stainless steel strips project per year” The installation and commissioning still needs a long period of time.

After careful research and demonstration, the company intends to extend the date of the “75,000 tons of ultra-thin precision stainless steel plate and strip project” to fully reach the expected usable status to February 28, 2022. The total investment of this project is 1.175 billion yuan, and so far, a total of 506 million yuan has been invested in raised funds.