FriendTimes invests RMB90m in structured deposits

FriendTimes Inc. announced that its wholly-owned subsidiary, FriendTimes Technology, invested a total of RMB90 million in three principal-protected, closed-end structured deposits with Shanghai Pudong Development Bank between April and July. The individual deposit amounts are RMB20 million, RMB40 million, and RMB30 million, respectively. The investments, made for treasury management, aim to enhance returns on unutilized funds while considering risk, liquidity, and maturity. The annualized rates of return range from a guaranteed 0.70% to a potential 1.35%, tied to EUR/USD exchange rates, with maturity dates in September and October. The company believes the transactions align with its investment policies and will closely monitor the subscriptions.