Zhongfu Straits continues investing idle funds in low-risk products

Zhongfu Straits Pingtan Development Co., Ltd. (SZSE:000592) disclosed updates on its strategy of utilizing idle self-owned funds for investments in low-risk financial products issued by banks and securities firms. Approved by the board on December 30, 2024, the company can invest up to CNY800 million, with funds to be used on a rolling basis, until December 31, 2025. As of the announcement date, the cumulative amount of investments in financial products exceeded 10% of the company’s latest audited net assets, triggering disclosure requirements. Details of recent investments include various structured deposits with expected annualized yields ranging from 1.05% to 2.70%, with maturity dates in the coming months. The company emphasized that these investments would not affect the normal operations of the company.