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Tianfu Communication Plans to Use Up to 8 Billion Yuan in Idle Funds for Wealth Management
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On September 18, Cailian Press reported that Tianfu Communication (300394.SZ) announced its board of directors approved a proposal to use up to RMB 8 billion in idle own funds for cash management. The company and its subsidiaries will purchase high-safety, highly liquid wealth management products. The authorization is valid for 12 months from the date of approval by the shareholders' meeting, with funds permitted to be used on a revolving basis. The proposal still requires review and approval at an extraordinary shareholders' meeting.
Source report
September 18 — According to a Cailian Press report, Tianfu Communication (300394.SZ) announced that its board of directors has approved a proposal authorizing the company and its subsidiaries to use up to RMB 8 billion in idle own funds for cash management.
Key details include:
- Purpose: The funds will be used to purchase high-safety, highly liquid wealth management products.
- Validity: The authorization is valid for 12 months from the date of approval by the shareholders' meeting.
- Revolving basis: Funds are permitted to be used on a revolving basis.
- Pending approval: The proposal still requires review and approval at an extraordinary shareholders' meeting.
Source
财联社Eastern
Part of this Story
Tianfu Communication board approves up to RMB 8 billion idle funds for cash management