Zhejiang Shibao's wealth management subscriptions trigger disclosure requirements

Zhejiang Shibao Company Limited subscribed to the 16th CITIC Wealth Management Product from China CITIC Bank on September 23, 2025. This subscription, funded by the company's idle capital, is part of a series of wealth management product subscriptions.

While the 16th product itself would not trigger a discloseable transaction, its aggregation with the previous nine CITIC Wealth Management Products (7th to 15th) means the total subscription amount now exceeds 5% but is less than 25% of the applicable percentage ratio under Hong Kong Listing Rules. This aggregation necessitates a discloseable transaction announcement.

The 16th CITIC Wealth Management Product, "No. A13549 Gongying Zhixin Exchange Rate Linked RMB Structured Deposits," is a principal-protected, closed-ended product with floating income. Zhejiang Shibao subscribed for RMB13m. This product is valid from September 23, 2025, to October 23, 2025, and has an expected annual return ranging from 1.00% to 1.72%.

The company's board approved using idle funds, up to RMB80m, for cash management through investments in products with high safety and liquidity. This strategy aims to increase revenue and shareholder returns without impacting the company’s primary operations or investment projects.