Shagang Co. continues investment in financial products

Jiangsu Shagang Co., Ltd. (SZSE:002075) disclosed that it has recently purchased financial products totaling 891 million RMB, while simultaneously redeeming 570 million RMB in matured products. This activity aligns with a shareholder-approved plan allowing investment of up to 8 billion RMB in financial products. The investments include a mix of fixed income and floating-rate products from various financial institutions, with maturity dates ranging from 2025 to 2026 and benchmark yields between 2.30% and 3.22%. Year-to-date, the company has earned 15.8045 million RMB in investment income. The company maintains that these investments are made without affecting its core operations, with internal controls in place to manage risk. Currently, the total amount of outstanding financial products purchased by the company stands at 5.086 billion RMB.