Haitong Development: Announcement Regarding Cash Management Using Temporarily Idle Raised Funds

NightAirdropper · 2026-03-20T21:29:05+00:00

Haitong Development announces that a board of directors meeting will be held in 2026 to review the use of no more than 30 million yuan of idle raised funds for cash management. The funds may be used on a revolving basis, and upon expiration of the management period, the funds will be returned to a dedicated account without the need for shareholder approval.

NightAirdropper

2026-03-20 21:29:05

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Securities Daily News: On March 19, Haitong Development announced that on March 19, 2026, the company’s 37th meeting of the fourth board of directors was held, during which the proposal “Regarding the Use of Temporarily Idle Raised Funds for Cash Management” was approved. The company and its subsidiaries plan to use no more than RMB 30 million (including this amount) of idle raised funds for cash management. Within this limit, the funds can be used cyclically. The maximum transaction amount at any point within the period (including related reinvestment of the returns from the aforementioned investments) does not exceed RMB 30 million (including this amount). After the cash management of idle raised funds expires, the funds will be promptly returned to the dedicated account for raised funds. This proposal does not require approval at the shareholders’ meeting.

(Edited by Ren Shibi)

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