Xinjiang Communications Construction Group to use idle funds for working capital

Xinjiang Communications Construction Group announced that its board of directors approved the temporary use of idle raised funds totaling up to $264,100,000 to supplement the company's working capital for a period not exceeding 12 months. This decision, also reviewed by the audit committee, aims to reduce financial costs and improve fund utilization, aligning with company development needs.

The funds originate from the $850,000,000 raised through the public issuance of convertible bonds in September 2020. As of November 27, 2025, the company had an idle balance of $264,104,300 in its dedicated raised funds account.

This temporary allocation is projected to save approximately $7,923,000 in financial expenses. The company confirmed that the use of these funds will not alter the direction of the raised capital or impact the normal progression of investment projects.