East Buy invests in wealth management, CGB subscription a major transaction

East Buy Holding Limited has announced its subscription to wealth management products from China Guangfa Bank Co., Ltd. (CGB) and China Merchants Bank Co., Ltd. (CMB). The CGB Subscription, for 100 million yuan, was non-guaranteed with an expected annualized return of 2.80% and matures on September 23, 2026. This brings the aggregate outstanding principal for CGB products to 700 million yuan.

The CMB Subscription involved 50 million yuan in non-guaranteed products with floating returns of 2.30%-3.30%, with a minimum term of 14 months. An additional 100 million yuan in CMB non-principal guaranteed products were also outstanding.

While the individual CGB and CMB Subscriptions did not constitute discloseable transactions on a standalone basis, the aggregated CGB Subscription exceeded 25% of applicable percentage ratios, making it a major transaction. The aggregated CMB Subscription exceeded 5% but remained below 25%, constituting a discloseable transaction. The company acknowledged a delay in reporting due to unintentional oversight and stated its commitment to enhancing internal controls.