Kedali returns idle funds used for working capital

Shenzhen Kedali Industry (SZSE:002850) announced that it has fully returned the idle funds that were temporarily used to replenish working capital. The company had utilized CNY 980 million of raised funds for this purpose within the approved authorization and timeframe. The initial resolution to use up to CNY 1 billion in idle raised funds for temporary working capital was approved on June 11, 2024, during the company's fifth board of directors' ninth meeting and the fifth board of supervisors' fifth meeting. These funds were intended for production and operation related to the company's main business and the usage period was not to exceed 12 months. Kedali confirmed that the funds were used appropriately, without affecting planned usage, and with no changes to the intended purpose. As of April 8, 2025, all funds had been returned to their dedicated accounts, a fact that has been communicated to the sponsor and sponsor representatives.