China Baoli Technologies Holdings Limited released its quarterly progress report (1 March – 29 May 2026) on executing the action plans designed to remove the auditor’s disclaimer of opinion. Key developments focus on capital reinforcement, debt management, project execution in Mongolia and ongoing business diversification.
Fund-raising Momentum • First-tranche share subscriptions under the general mandate were completed on 15 April 2026, bringing in net proceeds of HK$12.50 million. All funds are allocated to the Group’s Dark-Gold Deposit Beneficiation (DGDB) projects in Mongolia. • On 19 May 2026 the Group signed eight additional subscription agreements, targeting net proceeds of up to HK$8.00 million. The capital, once received, will also be channelled to the DGDB projects.
Debt Tenor Extended The Group renegotiated its outstanding borrowings of roughly HK$11 million, obtaining an extension of the repayment deadline to November 2026. The arrangement eases near-term liquidity pressure.
Project Execution in Mongolia • A local office has been established in Ulaanbaatar, serving as the operational base for DGDB activities. • Recruitment is under way for technical, operational and logistics roles. • Major equipment procurement is advancing: key suppliers have been selected and contracts covering pricing, delivery, payment terms and specifications have been executed, providing scheduling certainty for customs clearance and installation.
Strategic Cooperation Progress Following the February 2026 cooperation agreement with Top Skill Global Limited, China Baoli has completed and delivered technical reviews, resource model assessments and conceptual process design reports. All deliverables were accepted by the partner, marking a significant project milestone.
Convergence Media Business The Group continues to secure revenue through content-promotion advertising on leading social platforms and is exploring new live-event and cultural production opportunities, leveraging experience from last year’s Zhou Shen concert at Kai Tak Stadium.
Governance Commitment The board reiterated its determination to fully execute the outlined action plans and will issue further updates to keep shareholders and investors informed of progress toward lifting the audit disclaimer.
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