Tongda Group deploys RMB51.60 million idle funds into 195-day ICBC structured deposit

Bulletin Express03-25 17:44

Tongda Group Holdings Limited (Tongda Group) announced that its indirect non-wholly owned subsidiary, Tongda Chuang Zhi (Xiamen) Company Limited, subscribed on 25 March 2026 to an ICBC currency-linked structured deposit valued at RMB51.60 million.

The product, issued and managed by Industrial and Commercial Bank of China Xiamen Haicang Branch, starts on 27 March 2026 and matures in 195 days. Expected annualised returns range from 1.00% to 2.00%.

Management stated that the investment is funded by surplus cash and will not affect Tongda Group’s working capital. The Board assessed the product’s relatively low risk profile and higher yield compared with prevailing PRC fixed-term deposits, concluding the terms are fair and reasonable.

Under Hong Kong Listing Rules, the transaction’s highest applicable percentage ratio exceeds 5% but is below 25%, classifying it as a discloseable transaction. Accordingly, Tongda Group is required to publish this announcement but does not need shareholder approval.

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