Linyang Energy allocates CNY 230m to cash management
Jiangsu Linyang Energy (SSE:601222) announced it will use ¥230 million of idle funds raised through its public offering to purchase a structured deposit product from the Qidong branch of the Industrial and Commercial Bank of China. The investment is for a 45-day term. It is a low-risk investment intended to improve the efficiency of the company's capital usage without affecting ongoing project investments. Linyang Energy's board of directors and supervisors have already approved the allocation, with the aim of securing a higher return on its capital. The company states that the investment aligns with regulations and will not impact its core business operations. Investors are cautioned to be aware of potential market and liquidity risks.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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