Leadman Bio to allocate $9.7m to wealth management

Beijing Leadman Biochemistry (SZSE:300289) announced it will allocate up to RMB 700 million (approximately $9.7 million USD) of its idle, self-owned funds to entrusted wealth management. The decision, approved by the company's board and supervisory board on March 4, 2025, aims to enhance capital efficiency and shareholder value. The funds will be directed towards secure, liquid, low-to-medium risk cash management products issued by banks, securities firms, trust companies, and fund management companies. The investment period will span 12 months from the date of board approval, with a revolving facility within the approved limit. As of March 4, 2025, the company's existing entrusted wealth management balance stood at RMB 501.69 million, held in principal-protected bank products. Leadman Bio emphasizes risk control measures, including careful selection of financial institutions and continuous monitoring of investments.