Raffles Interior Ltd. (HK:1376) has released an update.
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Raffles Interior Ltd. is reevaluating its acquisition terms for a 51% stake in Wuhan Erchang Qishui Co. Ltd. after the target company reported continued net losses, casting doubt on its ability to meet profit guarantees. The company has postponed issuing conversion shares until it can verify the target’s financial stability with audited results. This cautious approach reflects Raffles Interior’s commitment to ensuring sound financial investments.
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