China Ceramic Electronics: Using 335 million yuan of idled raised funds to purchase bank structured deposits.
China Electronics announced that the company had previously obtained shareholder approval to use up to 1.5 billion yuan of idle funds for cash management. Recently, the company signed product manuals with the Shijiazhuang Hexi Branch of Bank of China and the Shijiazhuang Branch of China Citic Bank, purchasing "RMB structured deposits" and "win-win Zhixin exchange rate-linked RMB structured deposits" with amounts of 74 million yuan, 52 million yuan, 48 million yuan, 71 million yuan, 60 million yuan, and 30 million yuan respectively. As of the announcement date, the unredeemed amount of idle raised funds used for cash management totaled 1.005 billion yuan, including 335 million yuan unredeemed by the company and 670 million yuan unredeemed by its subsidiaries.
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