Summary by Moomoo AI
Shandong Gold Mining Co., Ltd. (“Shandong Gold”) announced that its holding subsidiary Yintai Gold and its holding subsidiaries plan to use their own free capital of not more than RMB 35 billion to commission finance, sovereign debt repurchases and currency fund investments. The investment program aims to improve the efficiency of the use of funds and increase the return on cash assets. The investment was approved by the 57th Board of Directors of Shandong Gold on 22 March 2024, but is still subject to approval by the General Meeting of Yintai Gold. Shandong Gold stated that the investment will purchase products with high security, liquidity and risk control and will not affect the development of Yintai Gold and the company's daily operations and main business.