Anhui Tongguan Copper Foil (SHE:301217) will close three fundraising investment projects and permanently transfer 383.0 million yuan in surplus funds to working capital.
The completed projects include the high-performance electronic copper foil technology center as well as 10,000-ton and 15,000-ton copper foil projects, according to a Tuesday filing with the Shenzhen bourse.
The company cited cost controls, government subsidies and cash management returns as key reasons for the surplus.
Shares of the copper producer rose 3% in recent trade.
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