North Industries (SZ:000519) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-09-24 04:24Core Points - The company approved the use of idle raised funds amounting to RMB 35 million to temporarily supplement the working capital of its wholly-owned subsidiary, Shandong North Binhai Machinery Co., Ltd. [1] - The approval was made during the 28th meeting of the 11th Board of Directors and the 20th meeting of the 11th Supervisory Board held on September 29, 2024 [1]. - The funds will be used for a period not exceeding 12 months from the date of approval [1]. Fund Utilization - The actual amount of idle raised funds used by North Binhai to supplement working capital is RMB 35 million [2]. - During the fund utilization period, North Binhai ensured that the funds were used reasonably, solely for operations related to its main business, and did not engage in high-risk investments [2]. - By September 22, 2025, North Binhai had fully returned the funds to its dedicated raised funds account and notified the independent financial advisor, CITIC Securities Co., Ltd. [2].