Champion Alliance International Holdings Ltd. (HK:1629) has released an update.
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Champion Alliance International Holdings Ltd. has announced a delay in the deployment of its HK$42.2 million (RMB37.6 million) in net proceeds from its listing, attributing the postponement to economic downturn uncertainties in 2023. Originally planned for upgrading and expanding production and non-production facilities, the company has instead opted for leasing equipment as a cost-control measure amid the challenging economic climate. The company reassures that, barring any continued economic difficulties, it expects to utilize the remaining funds as outlined in its 2023 Annual Report.
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