Robam Appliances invests in low-risk financial products

Hangzhou Robam Appliances (SZSE: 002508) has announced the use of up to CNY 6.5 billion in idle funds for investment in low-risk, high-liquidity financial products. Approved at both the board and shareholder levels, the initiative aims to improve capital efficiency without impacting core business operations. Management has been authorized to execute these investments within a specified timeframe, from the 2024 annual shareholder meeting until the 2025 annual shareholder meeting. Recently, the company purchased an "Xingyin Wealth Management [Steady Gains Daily Profit Fixed Income]" product for CNY 190 million. As of the announcement date, the company has CNY 15.9 billion in unexpired wealth management products. The company's strategy includes continuous monitoring and internal audits to manage risks, with independent directors and supervisors overseeing the investments. Past investments in similar financial products have yielded substantial returns, with CNY 25.3 billion in products reaching maturity in the last 24 months, generating CNY 100.7125 million in total profit.