On December 23, 2023, Shandong Fengyuan Chemical (002805.SZ) announced that it held the twelfth meeting of the sixth Board of Directors and the twelfth meeting of the sixth Supervisory Board on December 23, 2024, to review and approve the proposal regarding the conclusion of the fundraising project and the permanent replenishment of working capital with the surplus funds raised. The company agreed to conclude the "Annual Production of 0.05 million tons of Lithium Battery Phosphate Lithium Cathode Material Production Base Project" from the 2022 non-public stock issuance fundraising project and to use the surplus fundraising amount of 69.522 million yuan (including unpaid contract balances, warranty funds, and bank deposit interest, with the actual amount based on the balance of the fundraising special account on the day of capital transfer) for the permanent replenishment of working capital.