Gigadevice to Utilize Idle A-Share Proceeds for Cash Management

Stock News17:50

Gigadevice announced that on April 24, 2025, its fifth board of directors and board of supervisors held their second meetings, approving a proposal to use idle raised capital for cash management. Provided it does not impact the progress of fundraising projects or the company's normal operations, Gigadevice, including its wholly-owned subsidiaries and sub-subsidiaries acting as project implementers, plans to use up to 500 million yuan of idle funds for cash management. The company will opportunistically purchase high-security, highly-liquid bank wealth management products and structured deposits with capital preservation features. The term of any purchased financial products or structured deposits must not exceed twelve months.

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