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First Tractor Co ( (HK:0038) ) has issued an announcement.
First Tractor Company Limited has announced its decision to utilize internal idle funds to purchase low-risk, principal-guaranteed structured deposit financial products issued by banks. The company aims to improve capital utilization efficiency and enhance returns on capital operations. The investment cap for these deposits is set at RMB2.9 billion, which can be used on a revolving basis within a 12-month authorization period. This decision was approved by the company’s board and does not require shareholder approval under the Shanghai Stock Exchange rules but will comply with applicable reporting and disclosure requirements of the Hong Kong Stock Exchange.
More about First Tractor Co
YTD Price Performance: -3.11%
Average Trading Volume: 20,000
Technical Sentiment Signal: Sell
Current Market Cap: $1.8B
See more insights into 0038 stock on TipRanks’ Stock Analysis page.