China Feihe (HKG:6186) unit Heilongjiang Feihe Dairy subscribed for 500 million yuan of a financial product offered by China Construction Bank (HKG:0939, SHA:601939) on Nov. 1, a same-day bourse filing said.
The move comes about in order for the diary company to better utilize its idle funds.
The product has an expected annual return rate of 2.85% and will fall due Nov. 5, 2025.
As of Nov. 1, the company has availed roughly 2.41 billion yuan of wealth management and structured deposit products from China Construction Bank.
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