Summary by Moomoo AI
China Telecom Co., Ltd. (“China Telecom”) announced on 26 March 2024 the specific audit opinions on the storage and use of the funds raised for 2023. The report is reviewed by China International Financial Corporation Limited and CITIC Jiane Securities Co., Ltd., as Joint Sponsor Bodies. According to the audit results, the management and use of the funds raised by China Telecom in 2023 complied with the requirements of the relevant laws and regulations and was fully used, with no unused balance of fundraising funds. The fundraising has been mainly used for 5G industry Internet construction projects, cloud-based integration of new information infrastructure projects and technological innovation R&D projects, and has achieved expected benefits. Pwai Wing Road Central Accounting Firm also gave a positive verification report on this. China Telecom stated that timely, true, accurate and complete information was disclosed on the use of the funds raised, without any violations.