Zhejiang Shibao invests in CITIC Wealth Management products

Zhejiang Shibao Company Limited (HKEX: 1057) announced that it has subscribed to the 13th CITIC Wealth Management Product through China CITIC Bank, Hangzhou, funded by idle funds raised by the company. The subscription amount, RMB30 million, does not on its own constitute a discloseable transaction but when aggregated with previous subscriptions to CITIC Wealth Management products, it exceeds 5% but is less than 25% of applicable percentage ratios. The wealth management product, named "No. A06629 Gongying Zhixin Exchange Rate Linked RMB Structured Deposits," is a principal-protected product with floating income and a closed-ended term. The valid period for the product is from June 14, 2025, to July 14, 2025, with an expected annual return between 1.00% and 1.82%. The Directors believe the subscription is fair, reasonable, and in the interest of the Company and its Shareholders.