Qingdao Holdings Revises Funds Utilization Timeline

Qingdao Holdings International Limited (HK:0499) has released an update.

Qingdao Holdings International Limited has announced a change in the use and timeline for the unutilized net proceeds from their 2021 rights issue, which amounted to approximately RMB159.9 million. As economic conditions affected the property market, the company has adjusted its strategy and now expects to fully utilize these funds by June 2025. They have already allocated some proceeds for bank loan settlements and working capital, with the balance earning interest in bank deposits.

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