Tuopu Group deploys 200m yuan in idle funds for cash management

Ningbo Tuopu Group (SSE:601689) has deployed 200,000,000 yuan of temporarily idle raised capital into structured deposits. This cash management initiative aims to enhance the efficiency of funds and increase financial returns without affecting the progress of its investment projects. The structured deposit, purchased from China Everbright Bank Ningbo Beilun Branch, is a short-to-medium-term principal-guaranteed floating-rate product with an expected annualized yield of 0.52% to 2.08% over a 70-day term, forecasting a return of 199,500 yuan to 797,800 yuan.

The decision was approved at the company's fifth board of directors' twenty-first meeting and the fifth supervisory board's seventeenth meeting on April 22, 2025, and subsequently at the 2024 annual general meeting on May 14, 2025. This authorizes the company to manage up to 2,400,000,000 yuan of idle funds through structured deposits or principal-protected wealth management products from July 1, 2025, to June 30, 2026. The company emphasizes that these investments are low-risk and highly liquid.

This cash management strategy follows a prior redemption on October 20, 2025, where the company retrieved 20,000,000 yuan of principal and earned 233,150 yuan in income from a structured deposit with Ping An Bank Ningbo Beilun Branch.