Olympic Circuit Technology expands overseas with Thailand project funding

Olympic Circuit Technology (SSE:603920) has redeemed 50m yuan from a cash management product, earning an income of 236,300 yuan. Concurrently, the company is investing 80m yuan in a new floating-rate income certificate. These actions align with the company's strategy to maximize the efficiency of idle raised funds without impacting investment plans.

The company's board and supervisory committee approved the use of up to 110m yuan for cash management. In a strategic move, 520m yuan of previously uninvested raised funds from the "Heshan Shimao Electronic Technology Co., Ltd. 300,000 Square Meters Printed Circuit Board New Construction Project (Phase II)" have been reallocated to a new project: the "Thailand Gaofeng Green Industrial Park New Construction Project for 1.2 Million Square Meters of High-End, High-Precision Printed Circuit Boards (Phase I)." This project will be implemented by the company's subsidiary, Olympic Circuit (Thailand) Company Limited.

To support the new Thailand project, Olympic Circuit Technology has established a new dedicated raised funds account with Industrial and Commercial Bank of China (Thailand) Public Company Limited. This account will be governed by a four-party supervision agreement involving the company, its Thai subsidiary, ICBC (Thailand), and CITIC Securities Co., Ltd., ensuring regulated and efficient management of the reallocated funds.