Tongdao Liepin Group (HK:6100) has released an update.
Tongdao Liepin Group has utilized its surplus cash reserves for two major wealth management product subscriptions, totaling RMB 75 million. The first subscription, made by a wholly owned subsidiary, was for a guaranteed return product with Bank of Ningbo, while another, through a non-wholly owned subsidiary, was for a floating rate income product with BNB Wealth Management. These strategic financial moves are classified as discloseable transactions under Hong Kong Stock Exchange rules, not requiring shareholder approval.
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