INNOGEN invests over 100 million RMB to subscribe to two structured deposits, expecting an annualized return rate of up to 1.8%
INNOGEN subscribed to two structured deposits from Bank of Ningbo for RMB 105 million, with an expected annualized return rate of 0.5% to 1.8%, maturing on November 26. The group stated that since the principal will be fully refunded, the associated risks are relatively low, and it is expected to achieve higher returns compared to demand or time deposits of the same duration
According to a report from Economic Information Daily on the 4th, INNOGEN-B (02591) announced that it has subscribed to two structured deposit products from Bank of Ningbo for a total consideration of RMB 105 million. The group indicated that the expected annualized return rate for the structured deposits ranges from 0.5% to 1.8%, maturing on November 26. The consideration is paid using the group's own funds, and since the bank has committed to fully refund the principal amount paid for the structured deposit products, the associated risks are relatively low. Given the comparison with interest rates for similar-term demand deposits or time deposits, the deposit products are expected to yield more substantial returns. (wh)
