Author: Camellia
On December 30, Youyou Foods (603697.SH) issued an announcement stating that the cash management of wealth management products expired and it had been redeemed for 350 million yuan on December 28, 2021, with a gain of 2,864,800 yuan.
Source: Youyou Food Announcement
On May 19, 2020, the second meeting of the company’s third board of directors decided to use its own funds of no more than 800 million yuan for cash management; on May 18, 2021, the company’s 2020 shareholders meeting agreed to increase the total amount Cash management with self-owned funds of no more than 300 million yuan.
According to the announcement issued on December 30, Youyou Foods purchased the Industrial and Commercial Bank of China Co., Ltd. on September 14, 2021, September 27, 2021, and September 28, 2021 with a total of 350 million yuan of idle funds. The company issued products such as “ICBC Wealth Management Legal Person’s “Tianyibao” Net-Value Wealth Management Product TLB1801″ and “‘ICBC Tongli’ Series Xpress E RMB Wealth Management Product TLSXE01”.
Youyou Food stated that the above-mentioned wealth management products had redeemed the principal on December 28, 2021, and received a wealth management income of 2,864,800 yuan, which was not materially different from the expected income.
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