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Further Weakness as Guangxi Fenglin Wood Industry GroupLtd (SHSE:601996) Drops 16% This Week, Taking Three-year Losses to 26%
Guangxi Fenglin Wood Industry Group (601996.SH): The Qinzhou project is planned to be finalized and the remaining raised funds will be permanently used to supplement working capital.
Gelonghui December 3rd | Guangxi Fenglin Wood Industry Group (601996.SH) announced that the proposed completed investment project is the Qinzhou project. As of the date of this announcement, the cumulative investment in the Qinzhou project has reached 639.4447 million yuan, with a remaining balance of 58.2585 million yuan (including temporary additional working capital of 58.2528 million yuan and a balance of 0.0058 million yuan in the dedicated account for funds raised). As of the date of this announcement, the Qinzhou project has reached the planned available status, meeting the completion conditions. In order to improve the efficiency of fund utilization and reduce the company's financial costs, the company plans to complete the Qinzhou project and allocate the remaining raised funds.
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