China Treasures New Materials Group Limited. (HK:2439) has released an update.
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China Treasures New Materials Group Ltd. has announced delays in their expansion plans for biodegradable plastic production due to various challenges including economic and geopolitical issues. The company has prioritized the expansion in Southeast China and has shifted its Huizhou base to Dongguan after a strategic review, which offered better support and lower costs. They will continue to assess the financial situation into 2024 to determine the allocation of unutilized proceeds from their Listing.
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