Summary by Moomoo AI
North Forest Holdings Limited announced that its wholly-owned subsidiary North Forest Cloud Computing subscribed to three financial products from Bank of China on September 26, 2024, with a total amount of 200 million RMB. On the same day, the Beijing branch of North Forest Cloud Computing also subscribed to financial products from Xiamen International Bank, with an amount of 100 million RMB. In addition, the financial products subscribed by North Forest Cloud Computing on May 17 and September 4, 2024, respectively, for 40 million RMB and 80 million RMB, have not been paid off yet. According to the listing rules, the subscription matters of Bank of China and Xiamen International Bank must be disclosed, but exempted from shareholder approval. The board of directors believes that the returns provided by these subscriptions are higher than regular commercial bank time deposits, and the funds come from surplus cash reserves, not affecting operational funds, helping to increase idle fund income, and aligning with the overall interests of the company and shareholders.
