Sungrow continues financial product investments with idle funds

Sungrow Power Supply (SZSE:300274) announced that it is continuing to use idle funds to purchase financial products, as approved by the board of directors on August 23, 2024. This strategy aims to improve capital efficiency and increase returns. Recently, the company invested 60 million RMB in a structured deposit product at China Everbright Bank with a potential yield of 1.3%/2.25%/2.35%. Additionally, 10 million RMB was redeemed from a structured deposit, generating a yield of 18,750 RMB at an annualized rate of 2.25%. Sungrow emphasizes that these investments are made under strict risk control measures and will not impact ongoing capital projects. The company has been actively managing its idle funds within the approved scope, as shown in the statement, with another 30 million RMB in financial products.