Grand Ocean Advanced Resources Co., Ltd. (HK:0065) has released an update.
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Grand Ocean Advanced Resources Co., Ltd. has entered into a Shareholder’s Loan Agreement with the Target Company, providing a non-interest bearing loan of RMB 36 million to repay funds used for mine infrastructure and machinery. The loan, funded by internal resources, aims to proportionately boost the Target Company’s capital, reflecting the company’s 52% ownership stake. The board deems the agreement fair and in the shareholders’ best interests.
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