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Jiangsu Horizon Chain Supermarket Company Limited Class H ( (HK:2625) ) has issued an update.
Jiangsu Horizon Chain Supermarket Company Limited has disclosed that, out of HKD89.1 million in IPO net proceeds, approximately HKD22.9 million has been used, leaving HKD66.2 million unutilized as of the announcement date. The board has resolved to reallocate part of the remaining funds originally earmarked for a new distribution centre to expanding the existing distribution centre and further opening new retail stores.
Under the revised plan, HKD17.2 million of the unutilized proceeds will now be directed to expanding the current distribution centre, including construction and related facilities, while the budget for a new distribution centre construction and equipment is reduced. The company maintains its original funding allocation for establishing a new central kitchen and enhancing operational infrastructure, signalling a near-term focus on optimizing current logistics capacity and accelerating store network growth rather than building entirely new distribution infrastructure.
More about Jiangsu Horizon Chain Supermarket Company Limited Class H
Jiangsu Horizon Chain Supermarket Company Limited is a PRC-incorporated joint stock company operating supermarket and retail chain businesses, focusing on store-based consumer goods distribution. Listed in Hong Kong, the group derives its revenues from operating and expanding retail stores, supported by distribution and central kitchen facilities that underpin its regional supply chain capabilities.
Average Trading Volume: 187,676
Technical Sentiment Signal: Sell
Current Market Cap: HK$985M
For a thorough assessment of 2625 stock, go to TipRanks’ Stock Analysis page.