On November 6, King Kong Photovoltaic announced that the company decided to terminate the issuance of A shares to specific objects for the 2023 fiscal year.

King Kong Photovoltaic said that since the announcement of the issuance of shares to specific objects, the company has been actively promoting relevant work with relevant parties. After considering the actual situation of the company and the factors of capital market and relevant policies, the company decided to terminate the issuance of A shares to specific objects.

It is understood that King Kong Photovoltaic originally planned to raise 500 million yuan to 1.042 billion yuan, and the net amount of funds raised after deducting the issuance expenses was planned to be used to supplement the working capital and repay the loan.