Kingbo Strike Ltd. (HK:1421) has released an update.
Kingbo Strike Limited announces a reallocation of its recent HK$16.0 million Rights Issue proceeds, now dedicating HK$7.5 million to its burgeoning cosmetics business and adjusting funds for solar power projects and general working capital. The Board believes this strategic shift will enhance financial resource deployment and stimulate revenue growth within the healthcare and beauty industries. This move aligns with the company’s acquisition of patents for cosmetic products and is expected to commence sales in the second half of 2024.
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