02187

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ZHIXIN GP HLDG will reallocate approximately HKD 5.4 million of unused funds to repay bank loans

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Mar 16 at 05:01 AM

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According to a report from Economic Information Agency on the 16th, ZHIXIN GP HLDG stated that it has decided to reallocate the net proceeds of approximately HKD 5.4 million originally intended for expanding the group's precast concrete component production capacity to repay the group's outstanding bank loans. Due to intense competition in the Xiamen precast concrete component market, the company believes that reallocating the unutilized net proceeds will allow it to more effectively allocate its idle financial resources to meet its financial needs. (rh)

According to a report from Economic Information Agency on the 16th, ZHIXIN GP HLDG (02187) stated that it has decided to reallocate the net proceeds of approximately HKD 5.4 million, originally intended to expand the group's precast concrete component production capacity, to repay the group's outstanding bank loans. Due to intense competition in the Xiamen precast concrete component market, the company believes that reallocating the unused net proceeds will allow it to more effectively allocate its idle financial resources to meet its financial needs. (rh)

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