China Anchu Energy Storage Group Ltd (HK:2399) has released an update.
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China Anchu Energy Storage Group Ltd has reallocated the net proceeds from its recent share subscriptions, initially intended for debt repayment, towards the expansion of its business and working capital, following the conversion of a convertible bond. The move is positioned by the company as a strategic use of financial resources to capture new business opportunities and drive development. The Board assures shareholders that this reallocation has no adverse impact on existing operations and supports the Group’s interests.
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