Shang Hai Zheng Quan Bao·2025-05-08 20:50Core Viewpoint - The company has approved the use of idle funds from a non-public stock issuance for cash management, with a limit of up to RMB 2 billion, focusing on safe and liquid financial products [2]. Group 1: Cash Management Approval - The company held a board meeting on January 20, 2025, where it approved the use of idle funds for cash management [2]. - The cash management will involve investments in low-risk, high-liquidity products such as structured deposits and time deposits, valid for 12 months from the board's approval [2]. Group 2: Redemption of Cash Management Products - The company redeemed structured deposit products from Industrial Bank and China Communications Bank on February 7 and February 12, 2025, respectively, receiving a total of RMB 2,007.48 million (after fees) [3]. - The principal and earnings from these products have been transferred to the company's dedicated fundraising account [3]. Group 3: Overall Status of Cash Management - As of the announcement date, the balance of idle funds used for cash management is RMB 0 million, indicating that all funds have been utilized [4]. - The highest daily balance and usage period for the cash management have remained within the board's authorized limits, with no overdue products reported [4].