XWXN(SH:688778) Shang Hai Zheng Quan Bao·2025-07-31 18:59Core Viewpoint - Xiamen Xatong New Energy Materials Co., Ltd. has approved the use of idle raised funds for cash management, allowing up to RMB 500 million for investment in structured deposit products and other financial instruments [2]. Group 1: Cash Management Approval - The company held its second board meeting on August 1, 2024, where it approved the continued use of idle raised funds for cash management [2]. - The decision allows the company and its wholly-owned subsidiary, Xiamen Jinglu New Energy Materials Co., Ltd., to use up to RMB 500 million for cash management within a 12-month period [2]. - The board has authorized the chairman to exercise decision-making power and sign relevant legal documents regarding this cash management [2]. Group 2: Redemption of Financial Products - On February 17, 2025, the company subscribed to a structured deposit product with Xiamen International Bank for RMB 100 million [2]. - Additional subscriptions included RMB 75 million with Xiamen Bank on February 18, 2025, and RMB 220 million with Industrial and Commercial Bank of China on February 25, 2025 [2]. - The total principal of RMB 491.998 million and earnings of RMB 2.4828 million from these financial products have been redeemed and transferred to the special account for raised funds [2]. Group 3: Previous Cash Management Activities - As of the date of this announcement, the company has not engaged in any cash management activities using idle raised funds in the twelve months prior [3].