Wangfujing redeems RMB 1bn in idle funds from cash management

Wangfujing Group announced the successful redemption of RMB 1.09 billion in principal from various structured deposit products, along with total cash management income of RMB 2.31 million. The redeemed funds, which include principal and interest, have been returned to the company's designated fundraising accounts. These investments were made with temporarily idle raised funds through financial institutions including China Everbright Bank, Beijing Bank, and Industrial and Commercial Bank of China.

The structured deposits had varying maturities, ranging from 20 to 327 days, with purchase dates between January 15, 2025, and November 18, 2025. The company had previously approved the use of up to RMB 1.61 billion of temporarily idle raised funds for cash management, with a maximum term of 12 months, allowing for revolving utilization within this limit.

As of the announcement date, all cash management products purchased with idle raised funds, including demand deposits, structured deposits, and fixed deposits, have been fully redeemed. The funds are currently held in a structured deposit account within the company's dedicated fundraising accounts. The company's highest single-day investment in cash management over the past 12 months was RMB 1.55 billion, representing 7.65% of its net assets and 603.89% of its net profit for the most recent year.