JOINN Laboratories Redirects Funds to Boost U.S. Operations

JOINN Laboratories (China) Co., Ltd. Class H (HK:6127) has released an update.

JOINN Laboratories has announced a proposed change in the use of its remaining net proceeds from its global offering, initially amounting to approximately RMB5,285.2 million. The company has already utilized RMB2,713.1 million and plans to allocate the remaining funds towards strengthening its U.S. operations, including upgrading facilities and service teams in northern California by the end of 2028. This strategic move is aimed at meeting the increasing demand for services provided by its subsidiary, Biomere.

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