Hongxing Coldchain Invests 40 Million Yuan in Wealth Management Product

MT Newswires Live

05/15

Hongxing Coldchain (HKG:1641) said it invested 40 million yuan in idle funds in a wealth management product offered by Bank of Communications, according to a Thursday filing with the Hong Kong bourse.

The cold chain logistics operator's shares fell nearly 3% in morning trade Friday.

The product has a term of 42 days and an expected annualized return rate of 1% to 1.8%.

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