Tongda Group Holdings ( (HK:0698) ) has issued an update.
Tongda Group Holdings announced that its subsidiary, Tongda Chuang Zhi, has subscribed to an ICBC Wealth Management Product for RMB156 million using idle funds. This transaction, classified as a discloseable transaction under Hong Kong’s Listing Rules, involves a currency-linked structured deposit with a term of 58 days and an expected annualized return rate between 0.90% and 1.99%. The move reflects the company’s strategic financial management to optimize returns on its available resources.
More about Tongda Group Holdings
Tongda Chuang Zhi is an indirect non-wholly owned subsidiary of Tongda Group Holdings, primarily engaged in the production of durable household goods, household utensils, sports goods, and healthcare goods.
Average Trading Volume: 2,000
Current Market Cap: $140.4M
See more data about 0698 stock on TipRanks’ Stock Analysis page.