Tongda Group Holdings (DE:TJC) has released an update.
Tongda Group Holdings has announced that its subsidiary, Tongda Chuang Zhi, has invested RMB50 million in a wealth management product issued by Industrial Bank. The investment, which is considered a discloseable transaction under the Listing Rules, has a short term of 92 days and anticipates an annualized return rate between 1.50% and 2.57%. This strategic move utilizes idle funds to potentially enhance the subsidiary’s earnings from its core business of producing household and healthcare goods.
For further insights into DE:TJC stock, check out TipRanks’ Stock Analysis page.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
