Summary by Moomoo AI
Zhejiang Shibao Co., Ltd. (Zhejiang Seibao) announced on April 20, 2024 that it will temporarily supplement liquidity with a total amount of not more than RMB14,290 million with a period of use of 12 months using some idle raising funds. This move was reviewed and approved by the Company's Board of Directors and Supervisory Board on 19 April 2024. Zhejiang Shibao raised funds mainly for four investment projects, including automotive intelligent steering system technology transformation and R&D center projects. Adviser Guangfa Securities Co., Ltd., conducted a thorough audit of this use of idle fundraising funds and found that the company's conduct complied with the relevant laws and regulations, and there was no objection.