FLINES: Plans to use the oversubscribed funds of 153 million yuan to construct the "Access Network Equipment for Optical Communication Transmission System Equipment" project

FLINES announced that the company plans to use HKD 153 million of the oversubscribed funds from its initial public offering to invest in the construction of the "Access Network Equipment for Optical Communication Transmission System" project, aiming to expand its main business product line, enrich product categories, and meet market demand. The project implementation entity is Shenzhen FLINES Communication Technology Co., Ltd., with a construction period of 24 months, and expected economic benefits are good, with an internal rate of return of 24.73% and a payback period of 3.51 years. The total investment amount for the project is HKD 153 million, with specific investment components including engineering costs, other construction costs, and working capital. This investment does not constitute a related party transaction and does not constitute a major asset restructuring, and it still needs to be submitted to the company's second extraordinary general meeting of shareholders in 2025 for deliberation