Tongdao Liepin Group disclosed a series of wealth-management transactions totaling RMB199.00 million, deploying idle cash into six principal-protected structured deposits offered by Xiamen International Bank (XIB) and Bank of Hangzhou (BoH).

Key transaction details • XIB subscriptions: RMB12.00 million and RMB75.00 million, respectively, in 28-day and 25-day corporate structured deposits pegged to the EUR/USD exchange rate. • BoH subscriptions: RMB20.00 million, RMB5.00 million, RMB12.00 million and RMB75.00 million, respectively, in 92-day and 28-day “Tianlibao” structured deposits, also referenced to EUR/USD.

Return and risk profile All six products are principal-guaranteed with guaranteed minimum yields. Expected annualized return bands range between 0.45% and 2.35%, depending on product tranche and exchange-rate performance. Both banks classify the products as “low risk” under their internal assessments.

Funding source and purpose Tongdao Liepin financed the XIB placements with proceeds from recently matured deposits at the same bank, while the BoH allocations draw on surplus cash reserves and redeemed funds from previous BoH products. Management cites enhanced capital efficiency and preservation of liquidity as key objectives.

Regulatory implications Each tranche exceeds the 5% but remains below the 25% threshold under Hong Kong Listing Rule percentage ratios, rendering them discloseable transactions. Accordingly, they require announcement but not shareholder approval.

Issuer background XIB is a PRC-licensed commercial bank headquartered in Xiamen; its largest shareholder holds an 11.82% stake and is ultimately controlled by the Fujian provincial SASAC. BoH is a Shanghai-listed joint-stock commercial bank (SSE: 600926). Both institutions and their ultimate owners are independent third parties to Tongdao Liepin.

Board assessment The Board considers the terms to be fair and reasonable, aligning with the group’s strategy of safeguarding cash while capturing incremental yields.