Sinovant Announces Opening of Dedicated Settlement Accounts for Cash Management Products Tied to Raised Funds

Deep News

Yesterday

On October 7, Sinovant issued an announcement stating that the company held the seventeenth meeting of its second board of directors on September 22, 2026, at which the proposal regarding the use of part of temporarily idle raised funds for phased cash management was reviewed and approved.

Recently, due to the need for cash management of raised funds, the company opened dedicated settlement accounts for cash management products tied to raised funds at Bank of China and Industrial Bank.

These accounts will be used exclusively for the settlement of cash management products purchased with idle raised funds, and will not be used to deposit non-raised funds or for any other purposes.

The company will promptly cancel the above dedicated settlement accounts once the cash management products mature and there is no plan for further purchases.

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