CHINA IN-TECH plans to conduct another round of placement before the end of this year

CHINA IN-TECH (00464.HK) announced its latest operating situation, stating that it is continuously exploring and discussing new financing arrangements with banks and financial institutions, with no significant progress at present. It revealed that it is actively negotiating with potential investors to explore the feasibility of various fundraising options, planning to conduct another round of new share placement before the end of this year.

As of today (28th), there have been no default events under the loan agreements entered into by the group, and no banks, financial institutions, or financing entities have taken any legal action against the group, nor are there any lawsuits, legal proceedings, or enforcement measures involved.

CHINA IN-TECH stated that the number of employees in its electronic hair care products business has decreased from 311 at the end of March this year to the current 292, believing that it will continue to have sufficient cash flow to fulfill its financial obligations for the next twelve months from the approval date of this year's consolidated financial statements when necessary