Summary by Moomoo AI
ASIA FRUIT HOLDINGS LIMITED ISSUED A SUPPLEMENTAL ANNOUNCEMENT ON 5 JANUARY 2024 REFERRING TO THE ANNUAL REPORT FOR THE YEAR ENDED 30 JUNE 2023. According to the announcement, the Company will change the use of the proceeds from the sale, and the HK$11.0 million originally planned for the refurbishment of the targeted land and property will be reallocated to other uses, including HK$2 million for the potential refurbishment of the targeted land and property, and HK$5 million for the cultivation of lemongrass. and HK$4 million as working capital for day-to-day operations. In addition, the announcement noted the impairment loss of plants and property, plant and equipment resulting from the cultivation business, and confirmed that the change in the use of net proceeds will help the Company to more efficiently allocate financial resources in the interests of the Company and its shareholders.