Shagang buys CNY 2.67bn in wealth management products

Jiangsu Shagang Co., Ltd. (SZSE:002075) announced that the company and its subsidiaries recently purchased wealth management products totaling CNY 2,669,827,000. Simultaneously, the company redeemed previously purchased wealth management products totaling CNY 136,100,000. The investments are made using idle funds within the framework approved at the 2024 shareholders meeting. As of the announcement date, the company's total outstanding amount of wealth management products is CNY 6,394,827,000, remaining within the authorized limit. The company states that these investments are intended to improve the efficiency of capital use without affecting normal operations.