BRIEF: Feihe buys additional 100 million yuan in wealth management products
Dairy products maker China Feihe Ltd. (6186.HK) said on Wednesday that it has subscribed to 100 million yuan ($14 million) worth of wealth management and structured deposit financial products from Shanghai Pudong Development Bank, with a maturity date of Nov. 4, 2025. It added the expected annual rate of return on the investment is 2.85%.
The investment brings the aggregate outstanding principal amount of Feihe’s wealth management and structured deposit financial products provided through Shanghai Pudong Development Bank to 1.92 billion yuan.
The company said that using temporarily idle funds reasonably and effectively will enhance its capital gains, which is consistent with its core objectives of ensuring capital safety and liquidity while meeting its capital needs for daily operations and dividend payments.
By Lau Chi Hang
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