Guolian Aquatics to boost working capital with idle funds

Zhanjiang Guolian Aquatic Products (SZSE:300094) announced its plan to use no more than RMB 200 million of idle raised funds to temporarily supplement its working capital. The decision, approved at the company's 6th Board meeting on March 17, 2025, aims to improve the efficiency of the company's capital and reduce financial costs without affecting the normal progress of its fund-raising investment projects. This allocation is restricted to core business activities and will not be used for speculative investments. It's estimated this move could save the company approximately RMB 6.2 million in financial expenses. As of February 28, 2025, the company held RMB 132.37 million in dedicated accounts for raised funds. The company has a history of similar actions, with previous allocations in 2022, 2023 and 2024, all of which were returned to their designated accounts within the approved timeframes.