GUOQUAN FOOD (02517.HK): Proposed Change in Use of Proceeds from Global Offering

NewTimeSpace News: On August 26, 2026,GUOQUAN FOOD(02517.HK) announced that the net proceeds from its global offering stood at approximately HK$449 million. As at 30 June 2026, around HK$155 million had been utilised, leaving approximately HK$293 million unutilised. The Board proposes to vary the use of proceeds. A total of approximately HK$173.8 million, comprising HK$139.5 million originally allocated for opening and operating self‑operated stores and HK$34.3 million for R&D centre construction, will be reallocated to constructing, investing in or acquiring factories, so as to further improve its in‑house supply‑chain layout. In addition, the expected utilisation deadline for the remaining unutilised proceeds is extended from 31 December 2027 to 31 December 2028.

According to the announcement, the Company believes that concentrating more resources on in‑house production and supply‑chain infrastructure at the current stage is more aligned with its overall business strategy. The proposed change is subject to shareholders’approval at an extraordinary general meeting to be held on 10 September 2026.

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