AsiaPhos Faces Extended Fund Freeze Amid Legal Proceedings
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AsiaPhos Limited has announced that the Mianzhu Municipal People’s Court will keep RMB 7 million of Sichuan Mianzhu Norwest Phosphate Chemical Co., Ltd.’s funds frozen until March 2026 due to ongoing legal proceedings. This follows the company's previous disposal of certain subsidiaries, affecting its financial operations. Shareholders are advised to exercise caution with the company's securities. AsiaPhos operates in the chemical industry, focusing on phosphate-related products.
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