China Shun Ke Long Holdings Limited (HK:0974) has released an update.
China Shun Ke Long Holdings Limited has announced a shift in the allocation of its unutilized net proceeds, redirecting funds originally earmarked for the expansion of distribution centers to upgrading existing retail outlets, following a reassessment due to decreased wholesale distribution sales amidst the COVID-19 pandemic. The company has already utilized about 91.9% of its initial net proceeds from its global offering, with the remaining balance now set to enhance its retail infrastructure. This move indicates a strategic pivot to adapt to current market demands, as the existing distribution facilities are deemed sufficient.
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