Chengdu Kanghong Pharmaceutical's (SHE:002773) unit, Chengdu Kanghong Biotech, purchased a wealth management product for 1.70 billion yuan, according to a Shenzhen bourse filing on Wednesday.
The wealth management product is a renminbi-denominated structured deposit from Bank of China (SHA:601988, HKG:3988), with a term of 204 days.
The product's annualized return is 0.60% if its linked indicator reaches or exceeds the observation level, but the annualized return would be at 1.75% if the linked indicated remains below the observation level throughout the observation period.
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