Xiamen Tungsten redeems cash management product, receives over 70m yuan

Xiamen Tungsten Co. announced the redemption of a cash management product, utilizing idle raised funds. The company had purchased a structured deposit product from Agricultural Bank of China Limited on March 28, 2025. Upon maturity and redemption, the company received a total of RMB 70,081,022.99, comprising the principal amount and accrued income. The actual income generated was RMB 8,102,299.

The company's board approved the use of idle raised funds for cash management on December 30, 2024, authorizing up to RMB 2.2 billion for highly secure, liquid, and principal-protected products with terms not exceeding 12 months. This redemption reflects the company's ongoing strategy to maximize returns on its idle capital within established guidelines.

As of the announcement date, Xiamen Tungsten's total balance in temporary idle raised funds for cash management stands at RMB 2,035 million. The company confirmed that its cash management activities have consistently remained within the scope of its board's authorization, with no overdue unrecovered products. The redeemed funds will be reinvested in cash management products within the approved limits.