China Metal Resources Utilization Ltd. (HK:1636) has released an update.
China Metal Resources Utilization Limited has announced a schedule to complete its outstanding financial reports by September 2024, contingent on securing necessary funds by July 2024. The company is actively negotiating debt restructuring, which hinges on new capital injection and converting state-owned debt into equity, in line with the trading resumption of its shares. Meanwhile, the company’s manufacturing operations have resumed, but the business related to communication cables and power transmission remains halted due to capital constraints and challenging market conditions.
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