China Feihe's (HKG:6186) unit Heilongjiang Feihe Dairy subscribed for 400 million yuan of a financial product by China Construction Bank (HKG:0939, SHA:601939), a Monday bourse filing said.
The move comes about in order for the company to put its idle funds to better use.
The product has an expected annual return rate of 2.85% and will fall due Dec. 2, 2025.
As of Monday, the dairy products group has nearly 2.81 billion yuan of outstanding wealth management and structured deposit financial products subscribed from the bank.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments