Zhejiang Shibao Co. Ltd. Class H (HK:1057) has released an update.
Zhejiang Shibao Co. Ltd. has engaged in a financial maneuver by subscribing to the 5th CITIC Wealth Management Product using RMB 50 million of its idle funds, with an expected annual return between 1.05% and 2.36%. This strategic subscription is part of the company’s cash management initiative to invest in high safety and liquidity investment products, falling within the disclosure requirements of the Hong Kong Listing Rules due to the aggregated percentage ratio exceeding 5%.
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