GUAN CHAO HLDGS will issue the second loan to the joint venture according to the terms of the investment agreement
GUAN CHAO HLDGS announced that it has met all the prerequisites for issuing the second loan (RMB 7 million) and will provide the loan to the joint venture according to the investment agreement. The board emphasized that the development plan of the project company focused on the production and sales of lithium niobate films is progressing as expected, and significant progress regarding the group's business will be announced separately in the future
According to the announcement from GUAN CHAO HLDGS (01872), as of the date of this announcement, all the prerequisites for the disbursement of the second loan (i.e., RMB 7 million) have been met in accordance with the terms set forth in the investment agreement. Accordingly, the company will disburse the second loan to the joint venture in accordance with the terms of the investment agreement.
The board of directors emphasizes that the development plan of the project company focused on the production and sales of lithium niobate films has achieved results consistent with the company's initial expectations. The board will issue another announcement at an appropriate time to inform shareholders and potential investors of any significant developments regarding the group's business operations
