Tongda Group Holdings (HKG:0698) unit Tongda Chuang Zhi subscribed to 50 million yuan of a wealth management product from the Xiamen Jiangtou branch of Industrial Bank (SHA:601166), a Thursday bourse filing said.
The product has an expected annualized return rate of 1.5% to 2.25% and will fall due in 61 days.
The move came about for the unit to put its idle funds to better use.
Shares of the electronic component maker closed over 4% higher on Thursday.
Price (HKD): $0.07, Change: $+0.0030, Percent Change: +4.41%
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