Summary by Moomoo AI
ZHEJIANG SHIBAO CO., LTD. ADOPTED A WRITTEN MOTION BY THE BOARD OF DIRECTORS AND SUPERVISORY BOARD ON APRIL 19, 2024, ADJUSTING THE AMOUNT OF INVESTMENT PROJECTS TO ISSUE A SHARE RAISING FUNDS TO SPECIFIC SUBJECTS. The company originally planned to raise funds of RMB11.8 billion, but the net amount of the actual fund raised was RMB3.4409 billion, less than expected. Therefore, the company decided to adjust the capital investment for the four fundraising projects to match the actual fundraising net and the actual situation of the project. After the adjustment, the annual production of the 60,000 smart steering system technology transformation projects for new vehicles decreased from $3 billion to $9 million, and other projects were adjusted accordingly. Zhejiang Shibao said that this adjustment is conducive to...Show More