Zhejiang Shibao continues cash management with idle funds

Zhejiang Shibao announced its continued use of idle raised funds for cash management, following approval on April 9, 2025, to invest up to 80m yuan in highly secure and liquid products. This strategy aims to enhance returns without affecting ongoing project investments or normal operations.

Recently, the company redeemed an 18m yuan structured deposit from China Everbright Bank Hangzhou Economic and Technological Development Zone Branch, receiving an actual return of 26,200 yuan. Concurrently, Zhejiang Shibao invested 13m yuan of its idle funds in a new structured deposit product (A13549) from the same bank. This new investment, a principal-protected floating-rate product with a closed-end period, has an anticipated annualized yield of 1.00-1.72% and matures on October 23, 2025.

As of the announcement date, Zhejiang Shibao's total unexpired cash management investments within the past twelve months, including the current investment, amount to 13m yuan. This figure remains within the board-approved limit.