BYD Board Approves Use of Idle Capital for Wealth Management

Deep News04-02 23:11

Byd Company Limited announced that its 22nd meeting of the eighth board of directors reviewed and passed a proposal regarding the utilization of the company's own idle funds for entrusted wealth management. The company and its controlled subsidiaries plan to use these funds to purchase wealth management products or bond instruments characterized by high safety, strong liquidity, and low-to-medium risk from financial institutions such as banks, securities firms, fund companies, and insurance asset management companies. The total amount allocated for this purpose will not exceed 60 billion yuan. The authorization for the use of these funds is valid for twelve months from the date of board approval. Within the specified limit, the capital may be used on a rolling basis.

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