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On July 31, Huamai Technology released a statement indicating that the 28th session of its fourth board of directors had approved pertinent resolutions to revise several of its fund-raising investment initiatives. Notably, the research and development (R&D) and industrialization project for radio frequency device products tailored for 5G wireless network coverage has achieved its preset operational status and is now slated for completion. Meanwhile, the R&D and industrialization project for agile, intelligent, and eco-friendly data center systems is recommended for termination in light of shifts in the market landscape. The combined surplus and residual funds from these two projects total 70.2555 million yuan, which will be permanently earmarked to bolster the company's working capital.
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