Longpan Technology (02465) announced that on November 15, 2024, Sichuan Lithium Source (an indirect non-wholly-owned subsidiary of the company) paid the Bank of China to purchase two wealth management products totaling RMB 100 million in accordance with the Bank of China subscription.
The directors believe that carrying out this Bank of China subscription transaction will allow the company to use temporarily idle funds to subscribe to wealth management products with relatively low risk, so that the Group can improve the efficiency of the use of funds, increase the return on the Group's idle capital, and increase the Group's profits.
