Huitongda Network Co., Ltd. Adjusts IPO Proceeds Allocation

Huitongda Network Co., Ltd. Class H ( (HK:9878) ) has shared an update.

Huitongda Network Co., Ltd. announced a proposed change in the use of proceeds from its initial public offering of H shares. As of December 31, 2024, the company has utilized approximately RMB1,145.0 million of the proceeds, with RMB637.3 million remaining unused. The funds have been allocated towards enhancing customer relationships, optimizing supply chain capabilities, increasing IT infrastructure investment, and selectively pursuing strategic alliances. These changes aim to strengthen the company’s market position and operational efficiency.

More about Huitongda Network Co., Ltd. Class H

Huitongda Network Co., Ltd. is a joint stock limited liability company incorporated in the People’s Republic of China. It operates in the retail and supply chain industry, focusing on digitalizing member retail stores, offering solutions to wholesalers, and expanding its customer base across northern and southern regions of China. The company is also involved in optimizing supply chain efficiency, enhancing IT infrastructure, and pursuing strategic alliances.

YTD Price Performance: -5.37%

Average Trading Volume: 962,136

Technical Sentiment Consensus Rating: Hold

Current Market Cap: HK$10.05B

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