Waigaoqiao (600648) Redeems 187 Million Yuan of Idle Raised Funds from Financial Products; Cumulative Returns Reach 811,000 Yuan

[Finance News] Shanghai Waigaoqiao Group Co., Ltd. (Stock abbreviation: Waigaoqiao, Stock code: 600648, 900912) announced on March 20 that it has recently redeemed multiple structured deposit products purchased with idle raised funds, involving a principal of 187 million yuan, with a total actual return of 811,000 yuan. All principal and returns have been fully returned to the dedicated raised funds account.

The announcement shows that the structured deposits redeemed by Waigaoqiao this time were purchased by its controlling subsidiary between September and December 2025. Specifically, the redemption details of each structured deposit are as follows:

It is understood that Waigaoqiao’s 11th Board of Directors’ 13th meeting and 11th Supervisory Committee’s 7th meeting held on July 21, 2025, approved the “Proposal on Using Temporarily Idle Raised Funds for Cash Management,” which allows the company to use up to 503 million yuan of idle raised funds for cash management under the premise that it does not affect the construction of raised fund investment projects and normal production and operation, ensuring fund safety. The products purchased are high-security, liquid, principal-protected financial products or deposit-type products, with a validity period of up to 12 months from the date of board approval, and the amount can be rolled over repeatedly.

The announcement also discloses the overall situation of the company’s cash management of raised funds in the past 12 months. During this period, all principal recovered from the structured deposits invested by Waigaoqiao has been received, with a total actual return of 2.1878 million yuan. The maximum single-day investment amount in the past 12 months was 329 million yuan, accounting for 2.52% of the net assets in the past year and 34.58% of the net profit in the past year. As of the date of this announcement, the total investment limit of 503 million yuan for raised funds has not been used, and the remaining unused investment limit is still 503 million yuan. The company states that there are no overdue or unrecovered products purchased with idle raised funds.

This redemption operation is a normal fund management behavior based on the use plan of raised funds and market conditions, which helps improve the efficiency of idle raised funds and generate reasonable investment returns for the company and shareholders.

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