China Baoli Technologies (164) Provides Additional Details on 2025 Annual Report Fundraising Proceeds

China Baoli Technologies Holdings Limited (164) issued a supplemental announcement concerning the use of proceeds for various fundraising exercises during the year ended 31 March 2025. The company clarified that certain convertible bonds, share subscriptions, and share placings were carried out under both specific and general mandates.

According to the announcement, convertible bonds issued in an aggregate principal amount of RMB128.37 million (equivalent to HK$139.00 million) did not generate net proceeds but were instead employed to offset an equivalent sum owed to CQ Zifeng. Separately, HK$4.00 million from a subscription of new shares under a general mandate was allocated to settle part of the company’s outstanding liabilities and for working capital, while another HK$6.00 million raised through convertible bonds under a general mandate was used for settling outstanding obligations and operational expenses.

Additionally, placements of new shares under a general mandate generated HK$13.70 million, designated for settling outstanding liabilities, aiding business development, and supporting general working capital. The announcement confirms that all stated proceeds were applied as intended. It also notes that the supplemental details do not alter any other information provided in the original 2025 Annual Report.