According to the Zhitong Finance App, Xing Zheng International (06058) announced that between November 6, 2023 and April 18, 2024, CISI Investment, an indirect wholly-owned subsidiary of the company, purchased preferred shares with a total principal amount of US$9 million (equivalent to about HK$70.65 million) in the open market (non-cumulative sustainable overseas preferred shares issued by ICBC with a total principal amount of US$2.9 billion and a dividend rate of 3.58%). The total cost was approximately HK$88,185 million (equivalent to about HK$692.251 million).
The Group purchases preferred shares for investment purposes. The Group's investment strategy includes (among other things) investing in a broad portfolio of different business segments to broaden its revenue sources and identify businesses (including but not limited to stocks, bonds, funds, structured products and derivatives) that can generate added value for its shareholders to bring stable returns within an acceptable range of risk. Furthermore, the Group has always sought to balance its securities portfolio when opportunities arise, and will from time to time realise its investments in the best interests of the Group.