Summary by Moomoo AI
GUANGCAR GROUP ANNOUNCED ON 28 MARCH 2024 THAT IT WILL ISSUE RMB 1.58 MILLION PERMANENT SUPPLEMENTAL LIQUID CAPITAL OF THE OUTSTANDING SHARE RAISING NON-PUBLICLY. This initiative aims to improve the efficiency of the use of funds and meet the needs of the company's day-to-day operations and business development. The decision has been approved by the Board of Directors of the Company and has been unanimously approved by the Board of Supervisors of the Company, and has not objected to the recommendation of the UCITS. The savings from this fundraising came primarily from cost savings and interest income from the Research Institute Phase 1 base expansion project. GUANGCAR GROUP SAID THAT SUPPLEMENTING LIQUID CAPITAL WITH SAVINGS HELPS REDUCE FINANCIAL RISKS, INCREASE PROFITABILITY AND IS IN THE BEST INTERESTS OF THE COMPANY AND SHAREHOLDERS. The final implementation of the project is still subject to submission to the general meeting for approval.