Megmeet continues cash management of idle raised funds

Shenzhen Megmeet Electrical (SZSE:002851) announced it will continue its cash management strategy by utilizing idle funds raised from both its 2019 and 2022 public offerings of convertible bonds. The decision, approved at prior board and shareholder meetings, allows the company to invest up to CNY 100 million from the 2019 issuance and CNY 500 million from the 2022 issuance in cash management products. This is done to improve capital efficiency and shareholder returns, ensuring the investments do not impede ongoing project funding. As of the announcement, the company had previously invested in fixed-deposit-type products with banks, receiving a total return of CNY 3,779,127.89 in the last twelve months. The investment strategy focuses on low-risk, liquid, principal-protected financial instruments, with safeguards and oversight implemented by company departments and independent directors.