Core Viewpoint - Zhejiang Fenglong Electric Co., Ltd. has announced the redemption of certain wealth management products purchased with temporarily idle raised funds and plans to continue investing in similar products to enhance fund utilization efficiency and generate returns for shareholders [1][2]. Group 1: Fund Management and Investment - The company approved the use of up to 90 million yuan of temporarily idle funds from its public convertible bond issuance for cash management, focusing on high-security and high-liquidity investment products [1]. - As of the announcement date, the company has redeemed wealth management products amounting to 221,917.81 yuan, which were purchased from Lianchu Securities Co., Ltd. [2]. - The company has also invested in structured deposits issued by Ningbo Bank, with the investment details including a principal protection feature and a floating annualized return of 1.00% to 2.30% [2][5]. Group 2: Approval and Compliance - The cash management proposal was approved in the board meeting held on March 21, 2025, and the investment limits and duration are within the approved scope, eliminating the need for further board or shareholder approval [3]. - The company has utilized a total of 60 million yuan of the raised funds for wealth management products over the past twelve months, which is within the authorized limit [4]. Group 3: Impact on Operations - The use of temporarily idle raised funds for cash management will not affect the normal construction of investment projects or the company's main business operations, while also improving fund efficiency and potentially increasing returns for shareholders [4].

Group 1 - The company will hold an online performance briefing for the year 2024 on May 28, 2025, from 15:00 to 16:00 [2][3] - Investors can submit questions before the meeting through a designated website [2][4] - The meeting aims to provide insights into the company's operational performance and development strategy [2][3] Group 2 - The company has approved the use of idle raised funds to purchase financial products, with a total limit of up to RMB 100 million [8][9] - The investment period for these financial products is valid for 12 months from the date of board approval [9] - The company has not used raised funds for financial products in the past twelve months, and the current investment will not affect the implementation of fundraising projects [13][14]