Huayou Cobalt returns idle funds used for working capital

Zhejiang Huayou Cobalt (SSE:603799) announced today that it has completed the return of idle raised funds that were temporarily used to supplement working capital. The decision to utilize up to CNY 60,000,000 of idle funds for this purpose was approved at the company's board and supervisory meetings on April 3, 2024, subject to a 12-month limit. Huayou Cobalt stated that the funds have been fully returned to the dedicated accounts as of the date of this announcement and that the situation has been communicated to the lead underwriter, CITIC Securities. The original resolution and usage were detailed in a previous announcement (No. 2024-035) on April 4, 2024.