Ningbo Jifeng redeems cash management product, principal and interest returned

Ningbo Jifeng Auto Parts Company Limited (SSE:603997) has announced the maturity and redemption of a cash management product purchased with idle raised funds. The company's board of directors and supervisory board had previously approved the use of up to CNY350 million of idle raised funds for cash management, investing in highly secure and liquid principal-protected wealth management products from financial institutions. This strategy, approved on March 28, 2025, allows for rolling investments over a period not exceeding 12 months.

The specific product redeemed was a corporate structured deposit, "Lilidoduo Company Stable 25JG4141 (1-month period for watching network branches exclusive) RMB corporate structured deposit," from the Pudong Development Bank Ningbo Beilun Branch. The company had invested CNY4,500,000.00 in this product, which had a 30-day term and an annualized yield of 1.60%.

Upon maturity, the full principal of CNY4,500,000.00 and an interest income of CNY6.00 were successfully redeemed and returned to the company's dedicated fundraising account. This redemption aligns with the company's approved cash management strategy for optimizing the use of its idle raised funds.