Shenzhen Infogem reports losses, plans share issuance to fuel growth

Shenzhen Infogem Technologies (SZSE:300085) has reported a net loss of CNY -129.11 million for the 2024 financial year, a decrease of 9.98% compared to the previous year's loss. To strengthen its capital base and pursue strategic initiatives, the company plans to issue shares to specific investors, aiming to raise up to CNY 300 million, not exceeding 20% of the company's net assets. The new funds would primarily support digital transformations, particularly within banking and emerging market segments. A number of changes have occurred within the leadership team, as well as the board, but more information is needed from the next shareholder report. Though the company faces challenges with profitability and evolving economic conditions, the share issuance will fuel growth by enabling new projects and increasing operational capabilities. The board is also considering changes and new team memebers in the years ahead to help streamline the workflow and achieve stated objectives.