Shenma Co. announced that the company plans to use no more than 650 million yuan of partially idle raised funds to temporarily supplement working capital. The proposal has been reviewed and approved at the 14th meeting of the 12th board of directors, with a usage period not exceeding 12 months from the date of board approval, and the funds can be used on a revolving basis within the limit. This capital replenishment will only be used for production and operations related to the company's main business, and will not change the use of raised funds in a disguised manner, nor affect the progress of raised fund investment projects or the company's normal production and operations.
Shen Ma Industry Co LtdCompany plans to use idle raised funds to supplement working capital, which may improve liquidity but also raises concerns about fund usage.