Pingtan Development significantly expands wealth management product investments

Zhongfu Straits Pingtan Development Company Limited announced its progress in purchasing wealth management products with idle self-owned funds. The company's board of directors and supervisory board approved the use of idle self-owned funds to purchase low-risk, highly liquid wealth management products from banks and securities firms. The maximum outstanding amount for these investments is RMB800 million, with a validity period from January 1, 2025, to December 31, 2025.

As of the announcement date, the cumulative undisclosed amount of wealth management product purchases has exceeded 10% of the company's net assets as per the latest audited financial year, meeting the disclosure standard set by the Shenzhen Stock Exchange. The recent purchases include products from China Merchants Bank, Bank of China, and China Construction Bank, with individual investment amounts ranging from RMB20 million to RMB70 million. These products have expected annualized returns varying between 0.40% and 2.20% and maturity dates spanning from November 2025 to December 2025.

The company emphasized that these investments are made to improve capital efficiency and generate returns for shareholders, without affecting the normal operations or investment plans of ongoing projects, ensuring high security and liquidity of funds. This strategy aims to enhance investment income while maintaining stringent risk control measures, including regular audits and independent oversight.