Summary by Moomoo AI
RONG CHANG BIO ANNOUNCED ON APRIL 26, 2024 THAT ITS “BIOPHARMACEUTICAL INDUSTRIALIZATION PROJECT” HAS BEEN COMPLETED AND THAT IT WILL RAISE THE REMAINING FUNDS RAISED AT $1,114.71 MILLION TO PERMANENTLY REPLENISH LIQUID FUNDS. This is aimed at improving the efficiency of the use of raising funds to meet the company's operational development needs. Prior to its initial public offering of ordinary shares on March 31, 2022, Rong Cheong Bios raised the total amount of RMB26.12, net post-issue fee of RMB25.05. The Independent Directors and the Board of Directors agree that this investment project and the fund use plan are in the best interests of the Company and its shareholders and will not have a material impact on the Company's production operations. The advisory body, Huatai United Securities, also expressly consented to this.