China688480.CG▲
Saiensi provides 485 million yuan interest-free loan to wholly-owned subsidiaries for fundraising projects
Saiensi announced that its board of directors has approved using raised funds to provide interest-free loans of 160 million yuan to its wholly-owned subsidiary Fujian Zijin Longli Chemical Company Limited, and 325 million yuan to Shandong Longli Chemical Company Limited, totaling 485 million yuan, specifically for the "Phase One of the Beneficiation and Smelting Reagent Expansion Project" and the "Annual Production of 100,000 Tons of High-Efficiency Flotation Reagent Construction Project." The loan term runs until project implementation is completed, with funds held in dedicated accounts under four-party supervision. This loan does not affect the intended use of the raised funds, and is conducive to improving capital efficiency and advancing project construction progress.