CITIC Metal (SH:601061) Zheng Quan Zhi Xing·2025-03-26 13:14Core Viewpoint - The company plans to utilize part of its idle raised funds for cash management to enhance fund efficiency and increase returns for shareholders, with potential transactions involving related parties such as CITIC Bank and its subsidiaries [1][2][3]. Summary by Sections Cash Management Overview - The company intends to use up to RMB 650 million of idle raised funds for cash management, which can be rolled over within this limit [2][3]. - The cash management will focus on high-security, liquid, and principal-protected financial products with a maturity of no more than 12 months [5][9]. Purpose and Rationale - The objective is to improve the yield on idle raised funds while ensuring that the normal operation and project funding are not affected [5][12]. - The cash management activities are expected to create greater returns for shareholders and align with their interests [10][12]. Approval Process - The cash management proposal was approved by the company's board of directors and supervisory board, and does not require further shareholder approval [11][12]. - Independent directors have also expressed their agreement with the decision, confirming compliance with relevant regulations [11][12]. Related Party Transactions - Potential cash management transactions may involve related parties such as CITIC Bank, CITIC International, and CITIC Securities, which will be conducted within the approved transaction limits [2][3][5]. - The pricing for these transactions will be based on market rates, ensuring fairness and avoiding harm to shareholders, particularly minority shareholders [10][12]. Financial Background - The company has raised a net amount of approximately RMB 3.19 billion from its initial public offering, with a portion currently idle due to project timelines [4][6]. - The funds will be managed in accordance with established financial regulations and internal controls to mitigate risks [9][10].