Zhongtong Finance APP news, ST Lingda (300125.SZ) announcement, the company held the eighteenth meeting of the sixth board of directors and the sixteenth meeting of the sixth board of supervisors on October 23, 2024, and approved the resolution on temporarily suspending the construction of the second phase project of the subsidiary company, Jinzhai Jiayue New Energy Technology Co., Ltd., agreeing to suspend the construction of the 5.0GW high-efficiency solar cells (TOPCon) production project of subsidiary company Jinzhai Jiayue (referred to as the Jiayue Phase II project).

After comprehensive consideration by the company's management, considering the huge capital requirement for the construction of the project, combined with the current financial situation, operational efficiency, market prospects, and other actual conditions of the company, continuing to invest may increase the company's risk exposure. The company's management has decided to temporarily halt the project construction. During the project suspension period, the company will take a series of cost control measures to reduce maintenance costs and potential losses during the shutdown. The company will continue to monitor market dynamics and regularly evaluate the economic feasibility of the project to react quickly when market conditions improve.