BTG Hotels(SH:600258) Shang Hai Zheng Quan Bao·2025-11-13 18:01Core Viewpoint - The company is utilizing idle raised funds for cash management to enhance fund efficiency and achieve stable returns while ensuring compliance with regulations and maintaining operational liquidity [5][18]. Investment Overview - Investment Type: Structured deposits in RMB from Bank of China, with principal protection and floating returns [2]. - Investment Amount: RMB 150 million [3]. - Approval Process: The board approved the cash management plan on December 20, 2024, allowing the use of up to RMB 800 million for cash management within a 12-month period [3][13]. Fund Management - Source of Funds: Part of the idle raised funds [7]. - Total Raised Funds: The company raised approximately RMB 2.999 billion through a non-public offering, with a net amount of about RMB 2.991 billion after expenses [9][10]. - Cash Management Products: The company has invested in high-security, liquid, and principal-protected products, including structured deposits and bank wealth management products [3][10]. Financial Impact - Recent Cash Management: The company has used a total of RMB 1.25 billion for entrusted wealth management in the last 12 months, with a cumulative amount of RMB 8.95 billion since November 24, 2021 [12]. - Financial Metrics: The principal of the redeemed wealth management products was RMB 200 million, yielding a pre-tax return of RMB 3.0581 million [15]. The newly purchased products amount to RMB 150 million, representing 5.02% of the net raised funds [16]. Risk Management - Investment Control: The company ensures that the investment does not alter the intended use of raised funds and maintains operational continuity [14]. - Internal Audit: The internal audit department is responsible for overseeing the use and management of funds, conducting quarterly checks on all investment projects [15]. Progress Disclosure - Previous Cash Management: The company redeemed RMB 200 million in structured deposits on November 7 and 9, 2025, with a pre-tax return of RMB 305.81 thousand [18]. - Total Transactions: As of the announcement date, the company has executed 49 cash management transactions totaling RMB 8.95 billion, with 43 transactions redeemed [18].