According to an announcement from Tigermed (03347), the company plans to establish a cross-border cash pool settlement business through banks with international settlement capabilities, with Tigermed acting as the lead enterprise. The initiative aims to enable the company and its subsidiaries — including wholly-owned and controlled subsidiaries both domestically and overseas, whether held directly or indirectly — to manage domestic and international funds more efficiently and to further support the expansion of its overseas operations.
Through this cross-border cash pool settlement business, Tigermed and the domestic and overseas subsidiaries included in the pool will achieve centralized management and unified deployment of cross-border RMB and foreign currency funds, effectively facilitating the adjustment and pooling of surplus and deficit funds, and enhancing the efficiency of internal capital allocation.
This move is conducive to reducing capital usage costs, improving capital utilization efficiency, while also strengthening the security controls over overseas funds, optimizing overall business processes, and providing more flexible and efficient financial support for the coordinated development of the company's domestic and international operations.
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