Tongda Group Holdings ( (HK:0698) ) has issued an announcement.
Tongda Group Holdings announced that its subsidiary, Tongda Chuang Zhi, subscribed to wealth management products from Ping An Bank, totaling RMB50 million. This move constitutes a discloseable transaction under Hong Kong’s Listing Rules, highlighting the company’s strategic use of idle funds to invest in structured financial products, which may impact its financial positioning and stakeholder interests.
More about Tongda Group Holdings
Tongda Group Holdings is a company incorporated in the Cayman Islands and operates in the wealth management sector. It is involved in the subscription of various financial products, particularly focusing on wealth management products through its subsidiary Tongda Chuang Zhi.
Average Trading Volume: 2,000
Current Market Cap: $140.4M
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