Xun Xing Shares Returned To Raise Funds 25 Million
Yesterday, the Fujian Xun Xing zipper Polytron Technologies Inc announcement revealed that it was temporarily returned to the 25 million raised fund temporarily used to supplement the working capital.
Previously, xunxing shares issued a notice, according to "SME board listed companies to raise funds management rules", without affecting the implementation of the fund-raising investment projects under the premise of one of the company's fund-raising projects, "Fujian xunxing zipper Polytron Technologies Inc zipper production items" use 25 million idle funds to temporarily replenish the working capital, the use period is 4 months (February 29, 2008 to June 28, 2008).
The time that the current fund is temporarily replenish the working capital for 4 months has arrived, and Xun Xing shares will be returned as promised.
It is understood that temporarily replenish the working capital with idle funds can raise the efficiency of the use of the raised funds and effectively reduce the financial cost.
In addition, on the 17 day of last month, Xun Xing Technology issued a prompts notice. In view of Xun Xing group's equity incentive to Xun Xing share management, it was not in conformity with the relevant provisions of the China Securities Regulatory Commission. Xun Xing group decided to withdraw its commitment to equity incentive for Xun Xing equity management.
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