Shanxi Meijin Energy boosts capital efficiency with cash management

Shanxi Meijin Energy (SZSE:000723) announced a strategic move to enhance capital efficiency by utilizing idle funds for cash management and not downwardly revising its convertible bond prices. The company plans to allocate up to CNY 30 million of idle funds from its convertible bond offerings and CNY 1.5 billion of its own funds in secure, highly liquid cash management products with terms not exceeding one year. This decision aims to improve returns without impacting ongoing project investments or normal operations. The funds come from a 2022 convertible bond issuance.