Huayou Cobalt returns idle funds to original accounts

Zhejiang Huayou Cobalt (SSE:603799) announced that it has fully returned idle funds used to temporarily supplement working capital to their dedicated accounts. The decision to utilize up to RMB 150 million in idle funds for working capital was approved at the company's board and supervisory meetings on March 18, 2024, with a usage period not exceeding 12 months. China Securities, the company's sponsor, provided a special verification opinion on the matter, as detailed in announcement 2024-029. Huayou Cobalt has notified its sponsor and representatives about the return of the funds, ensuring compliance and proper allocation of resources. The announcement was made on March 6, 2025.