Quanchai Engine announced that the company plans to use 90 million yuan of idle self-owned funds to subscribe to the unit structured deposit product 7202603477 of Bank of Ningbo Nanjing Branch. The product is principal-protected with floating returns, with a term of 151 days, corresponding to three tiers of annualized yields of 1.00 percent, 2.05 percent, and 2.25 percent. Expected returns are 372,300 yuan, 763,300 yuan, and 837,700 yuan respectively. This does not constitute a related-party transaction. The investment is made within the company's 2 billion yuan idle self-owned fund wealth management quota, which can be used on a rolling basis. The relevant proposal has been approved by the board of directors and the shareholders' meeting. The company stated that the move aims to improve capital utilization efficiency, will not affect normal production and operations or project construction funding needs, and that it has established multiple layers of risk control mechanisms.
Anhui Quanchai Engine Co LtdCompany plans to invest idle funds in structured deposit, aiming to improve capital utilization efficiency; no material impact on core business.
Bank of Ningbo Co Ltd