Xiamen Tungsten redeems cash management products, reclaims ¥280m principal

Xiamen Tungsten Co., Ltd. has announced the redemption upon maturity of several cash management products utilizing idle raised funds. The redemptions include "7-day notice deposits" and "RMB structured deposit products" from Industrial Bank Co., Ltd., and "Huilifeng" 2025 No. 6012 customized RMB structured deposit products from Agricultural Bank of China Co., Ltd. The company retrieved a principal of RMB 280 million and earned a total income of RMB 2.7535 million from these matured products.

Specifically, an RMB 80 million "7-day notice deposit" yielded RMB 0.0362 million, an RMB 32 million "RMB structured deposit product" yielded RMB 0.03865 million, an RMB 30 million "7-day notice deposit" yielded RMB 0.01356 million, an RMB 120 million "RMB structured deposit product" yielded RMB 0.14493 million, and an RMB 90 million "Huilifeng" product yielded RMB 0.07459 million.

As of the announcement date, Xiamen Tungsten's total current balance of idle raised funds utilized for cash management stands at RMB 1.735 billion. The company confirmed that its use of idle raised funds for cash management remains within the scope of the board of directors' authorized limits, with no overdue unrecovered products.