Wangsu Tech closes fundraising accounts after wealth management progress

Wangsu Science & Technology recently announced significant progress in its use of proprietary funds for wealth management products, as approved by its board and shareholders in March and April 2025. The company and its subsidiaries were authorized to invest up to RMB7.5 billion in low-to-medium risk financial products, with investments commencing October 17, 2025, and continuing until April 13, 2026. The disclosed investments include various products from institutions like Guoxin Securities, Harvest Fund, and Bank of China Wealth Management, with amounts ranging from RMB0.03 to RMB17,643.00.

In a related announcement on December 23, 2025, Wangsu Science & Technology detailed the closure of three fundraising accounts. These accounts, held at Shanghai Bank (Hong Kong Wangsu Technology Co., Ltd. account FTN1119150809401) and China Merchants Bank (Wangsu Science & Technology Co., Ltd. account 121907978210878 and Xiamen Wangsu Co., Ltd. account 592904034310310), were associated with fundraising activities from 2016 for the "Cloud Security Platform Upgrade Project." With the project concluded and remaining funds reallocated to working capital, the company opted to streamline its account management. The closure of these accounts indicates a strategic financial realignment following successful wealth management activities and project completion.