---
title: "GGEC has opened a special account for cash management of raised funds and signed a tripartite supervision agreement"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/258494554.md"
description: "GGEC announced that the company has been approved by the China Securities Regulatory Commission to issue shares to specific targets, expecting to raise funds of 1.375 billion yuan on December 14, 2023, which will be deposited into a dedicated account. The company has opened a cash management special settlement account for raised funds at China Galaxy Securities, which will only be used for managing idle funds. The company has analyzed investment risks and formulated control measures to ensure that cash management does not affect fundraising projects and operations, while also improving fund efficiency. The company also disclosed the main content of the tripartite supervision agreement, which is valid until the dedicated account is closed, and the obligations of the sponsor institution will last until December 31, 2025"
datetime: "2025-09-23T09:49:32.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/258494554.md)
  - [en](https://longbridge.com/en/news/258494554.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/258494554.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/258494554.md) | [繁體中文](https://longbridge.com/zh-HK/news/258494554.md)


# GGEC has opened a special account for cash management of raised funds and signed a tripartite supervision agreement

GGEC announced that, with the approval of the China Securities Regulatory Commission, the company will issue stocks to specific targets, raising funds of 1.375 billion yuan on December 14, 2023, which will be stored in a special account. Recently, the company opened a special settlement account for cash management of the raised funds at the Guangzhou Dongfeng Middle Road Securities Business Department of China Galaxy Securities. This account is solely for the cash management of idle raised funds. The company has analyzed the systemic and operational monitoring risks that investments may face and has formulated corresponding control measures. Using idle funds for cash management does not affect the fundraising projects and normal operations, and can also improve fund efficiency and returns. The company also disclosed the main content of the tripartite supervision agreement, which will be effective from the date of signing until the special account is closed, with the obligations of the sponsor institution lasting until December 31, 2025

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