CHINA FEIHE subscribes to SPD Bank's financial products worth 500 million yuan, expected annual yield of 2.6%
China Feihe subscribed to two non-principal guaranteed floating income financial products from Shanghai Pudong Development Bank with idle funds amounting to RMB 500 million, with an expected annual yield of 2.6%. The two products were subscribed for RMB 300 million and RMB 200 million, respectively, and will mature in August next year. The total amount of principal that the group has with Pudong Development Bank that is yet to mature is RMB 2.4 billion
According to a report from the Economic Information Agency on the 6th, China Feihe (06186) announced that yesterday it used idle funds to subscribe to two financial products issued by Shanghai Pudong Development Bank (SSE: 600000) with a total amount of RMB 500 million (the same below). The group stated that both financial products are non-principal guaranteed floating income types, investing in fixed income assets, with subscriptions of RMB 300 million and RMB 200 million respectively, maturing in August next year, with an expected annual yield of 2.6%. As of yesterday, the total amount of the group's outstanding principal for wealth management and structured deposit financial products subscribed from SPD Bank was RMB 2.4 billion. (wh)
