Yidu Tech Inc (02158.HK) saw its stock price surge 5.09% in the pre-market trading session on Friday, following the announcement of its subscription to treasury management products worth a total of $120 million.

According to the company's statement, Yidu Tech has subscribed for treasury management products offered by both Goldman Sachs (GS) and JPMorgan (JPM). The deal with JPMorgan involves the subscription of fixed-rate callable notes amounting to $60 million. Similarly, the subscription with Goldman Sachs is for a fixed-rate callable note with a principal amount of $60 million.

This strategic financial move appears to have boosted investor confidence in Yidu Tech's cash management and potential returns. The market's positive reaction suggests that shareholders view this as a prudent use of the company's funds, potentially leading to improved financial stability and returns for the tech firm.