Sunac Services (HKG:1516) said unit Tianjin Sunac Zhijia Life Services subscribed for a total of 650 million yuan of wealth management products by two companies in February, according to a Nov. 1 filing.
This comprised 300 million yuan of fixed-income wealth management products by Everbright Wealth Management and 350 million yuan of a wealth management product with China Foreign Economy and Trade Trust as the trustee.
The investments had come about in order to better utilize the property manager's idle funds.
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