Jizhong Energy redeems wealth management products, reports gains

Jizhong Energy Resources Company Limited recently announced the redemption of several wealth management products, as approved by its Eighth Board of Directors' Seventh Meeting on September 30, 2024. The company had previously authorized the use of up to RMB 1bn of its idle self-owned funds for entrusted wealth management. All products have now been fully redeemed.

The redemptions include a RMB 100,590,600 investment in Caida Securities Ruida Cash Enhancement No. 1, yielding a profit of RMB 5,873,300 with an annualized return of 3.9519%. Another product, Caida Securities Ruida Xinying No. 8, with an initial investment of RMB 50,000,000, generated RMB 2,138,300 at an annualized return of 4.6736%. The company also redeemed RMB 100,000,000 invested in Caida Securities Ruida No. 10, resulting in RMB 3,990,600 in profit with a 4.6240% annualized yield. Finally, an investment of RMB 49,409,400 in Caida Securities Ruida Cash Enhancement No. 1 yielded RMB 1,646,500 at an annualized return of 4.0408%.

Within the twelve months prior to this announcement, the company utilized idle self-owned funds to purchase additional wealth management products, including Caida Securities Ruida No. 10 (RMB 100,000,000), Caida Securities Ruida Cash Enhancement No. 1 (RMB 200,000,000), Ruida Xinying No. 8 (RMB 50,000,000), and Ruida Season by Season Joy 12 (RMB 50,000,000). All these products have also been fully redeemed.