002685SZSE

Announcement on the Use of Idle Funds to Purchase Bank Wealth Management Products

✨ AI Summary

Wugang Huadong Heavy Machinery Co., Ltd. plans to use idle funds to purchase low-risk bank wealth management products, with a total investment not exceeding 800 million yuan. The company will invest in financial bonds, government bonds, and medium-term notes. This initiative aims to optimize fund utilization without impacting daily operations. The investment strategy will be reviewed from 2025 onwards, with a board meeting scheduled for April 20, 2026, to discuss the proposal.

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Full Translation

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Important Content Reminder:

  1. Investment Types: Financial bonds, government bonds, and medium-term notes, among others, are considered low-risk investment targets for short-term bank wealth management products.

  2. Investment Amount: The total amount for purchasing bank wealth management products shall not exceed 800 million yuan (including principal), and funds can be utilized flexibly.

  3. Investment Method: Based on financial bonds, government bonds, and medium-term notes, low-risk products are targeted for short-term low-risk investment.

  4. Investment Period: The investment strategy will be reviewed and approved at the shareholder meeting from 2025 onwards.

  5. Source of Funds: The company and its controlling shareholders will provide the funds.

Approval Process

The company will convene its 34th board meeting on April 20, 2026, to discuss the proposal regarding the use of idle funds to purchase bank wealth management products.

Investment Risks and Control Measures

  1. Investment Risks: The bank wealth management products belong to low-risk investment categories, but the financial market is subject to economic fluctuations. The company will monitor economic trends and market conditions.

  2. Risk Control Measures: The company has established a risk management committee to implement risk control measures as follows: (1) The company will analyze and assess the bank wealth management products regularly. (2) The company will supervise the low-risk investment funds and ensure compliance with the investment plan.

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