Zhejiang Shibao (SHE:002703, HKG:1057) subscribed 35 million yuan in a wealth management product offered by a sub-branch of China CITIC Bank (HKG:0998, SHA:601998) at Hangzhou Economic and Technology Development Zone, a Saturday Hong Kong bourse filing said.
The product has an expected return rate of 1.05%-2.24% per annum and will mature on Nov. 29.
The auto parts maker said the move will allow it to better utilize its idle funds.
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