Migao Group Holdings Limited (HK:9879) has released an update.
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Migao Group Holdings Limited has decided to reallocate its HK$798.6 million net proceeds, initially set for the New Sichuan Production Facility, to other projects including the Heilongjiang Warehousing and Production Centre and Vietnam expansion. This strategic shift follows discussions with the local government and aims to optimize the company’s operational growth and development. Investors can expect updates on the utilization of proceeds in Migao’s upcoming interim results in November 2024.
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