As of the year ending March 31, 2024, the annual report supplementary announcement disclosed by Jianhong Group Holdings indicates that the company entered into a placement agreement with Shousheng Capital Group on November 30, 2023, to place 80,000,000 new ordinary shares to no fewer than six independent subscribers at a placing price of HKD 0.375 per share, with net proceeds of approximately HKD 29.6 million. The proceeds are primarily intended for business development opportunities and general working capital. Management pointed out that due to the winding-up petition submitted by Bank of East Asia on June 21, 2024, the board of directors decided to adjust the use of proceeds, prioritizing the repayment of overdue debts owed to Bank of East Asia. This move aims to allocate financial resources more...Show More

As of the year ending March 31, 2024, the annual report supplementary announcement disclosed by Jianhong Group Holdings indicates that the company entered into a placement agreement with Shousheng Capital Group on November 30, 2023, to place 80,000,000 new ordinary shares to no fewer than six independent subscribers at a placing price of HKD 0.375 per share, with net proceeds of approximately HKD 29.6 million. The proceeds are primarily intended for business development opportunities and general working capital. Management pointed out that due to the winding-up petition submitted by Bank of East Asia on June 21, 2024, the board of directors decided to adjust the use of proceeds, prioritizing the repayment of overdue debts owed to Bank of East Asia. This move aims to allocate financial resources more flexibly in the overall best interests of the company and its shareholders. After the adjustment, the unutilized net proceeds will be used for the operation of existing businesses, with some funds expected to be utilized before September 2025. The board believes that the adjusted use of funds will help the company manage financial resources more efficiently. The announcement also mentioned that the board consists of three executive directors and three independent non-executive directors, with Mr. Zhang Zhijia serving as chairman. The announcement date is November 29, 2024, and all other annual report information remains unchanged.