Advanced Fiber Resources uses idle funds for cash management

Advanced Fiber Resources (Zhuhai) has disclosed its recent activities in managing temporarily idle raised funds. The company's outstanding balance for cash management stands at 240 million yuan, well within the board-approved limit of 250 million yuan. This strategy allows for investment in highly secure, liquid, and principal-guaranteed bank structured deposit products with investment periods not exceeding 12 months.

The company recently redeemed a structured deposit product with Industrial Bank Co. Ltd. Zhuhai Gaoxin Branch, which yielded 8.81 yuan in profit from an investment of 23 million yuan over 45 days. Concurrently, Advanced Fiber Resources subscribed to a variety of structured deposit products from multiple banks, including Industrial Bank Co. Ltd., Xiamen International Bank Co. Ltd., and China Everbright Bank. These investments vary in duration, principal amount, and expected annualized yields, reflecting a diversified approach.

This financial strategy aims to preserve and increase the value of the company's funds, contributing to greater returns for shareholders without impacting the progress of its investment projects or normal business operations. The company emphasizes robust risk control measures, including selecting principal-guaranteed products and continuous monitoring of market conditions.