Pu’er Lancang Ancient Tea Co., Ltd. (HK:6911) has released an update.
Pu’er Lancang Ancient Tea Co., Ltd. has announced a re-allocation of their net proceeds from their December 2023 Global Offering, diverting significant funds towards a new fermentation and capacity expansion project, with some allocation adjusted to bolster working capital. Unutilized funds as of June 2024 stand at RMB106.6 million, with changes including the development of a logistics and e-commerce center in Foshan, while other projects will be self-financed or funded through loans.
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