Summary by Moomoo AI
Hang Yick Holdings Limited announced that it will change the intended use of its unused funds by approximately HK$47.7 million. The funds were originally planned for machinery replacement, labor force expansion, production facility renovation, and other projects. However, considering the current economic conditions and industry environment, the company has decided to reallocate these funds to strengthen its financial position and enhance operational capital. The board of directors stated that this change will not significantly impact the company's existing business and is in the overall best interests of the shareholders. Hang Yick Holdings will continue to assess the use of funds and make appropriate adjustments based on market changes. This announcement was issued by Chairman Tang Chaowen on September 27, 2024.