Tongda Group Engages in Wealth Management Subscriptions

Tongda Group Holdings ( (HK:0698) ) has provided an announcement.

Tongda Group Holdings, through its indirect non-wholly owned subsidiary Tongda Chuang Zhi, has subscribed to two wealth management products with Xiamen International, utilizing idle funds. The transactions involve RMB25 million and RMB20 million subscriptions, respectively, to currency-linked structured deposits with anticipated returns ranging from 1.40% to 2.40%. These subscriptions are classified as discloseable transactions under the Hong Kong Listing Rules, due to the applicable percentage ratios exceeding 5% but remaining below 25%. This move indicates the company’s strategic utilization of idle funds for potential financial gains and adherence to regulatory requirements.

More about Tongda Group Holdings

Average Trading Volume: 2,000

Current Market Cap: $140.4M

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