Shanghai Electric enhances fund management with entrusted wealth scheme

Shanghai Electric Group (HKEX: 2727) is enhancing its fund management through an entrusted wealth scheme and has announced a plan to repurchase A-shares. The company will invest in fixed-income trust schemes managed by J-Yuan Trust, a state-controlled entity, with a maximum daily balance of RMB2,000 million. This initiative aims to achieve more favorable yields compared to corporate deposits and money funds, aligning with the company's low-risk investment strategy. The management fee charged by J-Yuan Trust is confirmed to be no more than 0.3% per annum and is determined at arm’s length.