Liangxin Electrical increases cash management with idle funds

Shanghai Liangxin Electrical Co., Ltd. (SZSE:002706) announced that it has entered into a structured deposit agreement with the Industrial and Commercial Bank of China (ICBC), utilizing idle raised funds for cash management. The investment involves CNY 13,000,000.00 in a principal-protected floating income type product, with a term from July 2nd, 2025, to July 31st, 2025, and an expected annualized rate of return between 0.65% and 2.24%. This move aligns with the company's strategy, approved in August 2024, to use up to CNY 350,000,000.00 in idle funds for cash management to improve capital efficiency without affecting core business operations. As of the announcement date, the total outstanding amount of cash management products, including this investment, is CNY 230,000,000.00, remaining within the approved limit.