CIMC Group (02039) issued an announcement, March 27, 2024, after the 10th board of directors of the company in 2024...
Zhitong Finance App News, CIMC Group (02039) issued an announcement. On March 27, 2024, it was reviewed and approved by the 5th meeting of the 10th board of directors of the company in 2024, agreeing that the Group will continue to carry out financial management business with temporarily idle own funds without affecting normal operating capital requirements and ensuring the safety of funds. The balance of funds used for financial investment shall not exceed RMB 10 billion, and the maximum period of a single investment shall not exceed 12 months in principle.
The Group will strictly control risks in accordance with relevant regulations, strictly evaluate and screen wealth management products, and select wealth management products with high safety, good liquidity, stable product risk ratings, and relatively high return on investment with a low level of risk, including structured deposits, low-risk fixed income wealth management products, etc. Currently, the expected annualized yield of the same type of wealth management products in the market is between 1% and 3%.