Jiangnan New Materials' 75 million yuan idle raised funds cash management matures and is redeemed, generating a profit of 68,750 yuan, and the related special accounts are canceled.

【Finance News】On March 25, Jiangnan New Materials (Securities Code: 603124) released an announcement stating that the company and its subsidiary, HanYa Semiconductor Materials (Guixi) Co., Ltd. (hereinafter “HanYa Semiconductor”), previously purchased some large-denomination time deposit products using a portion of idle raised funds, which have now matured and been redeemed. The principal and earnings have been fully returned to the raised-funds special account, and the related cash management product-specific settlement account has also been simultaneously deregistered.

The announcement shows that the company, at the 11th meeting of the second session of the board of directors and the 9th meeting of the second session of the board of supervisors held on April 2, 2025, deliberated and approved the “Proposal on Using a Portion of Idle Raised Funds for Cash Management.” The proposal agreed that, without affecting the construction of raised-funds investment projects and normal business operations, the company and its subsidiaries would use some of the idle raised funds, with an amount not exceeding RMB 300 million, for cash management, purchasing principal-guaranteed financial products or deposit-type products with high safety and good liquidity.

The specific redemption details for this maturing redemption are as follows:

The two large-denomination time deposits above total a purchase amount of 75.0 million yuan. Upon maturity, the redeemed principal totaled 75.0 million yuan, and the total actual earnings were 687.5 thousand yuan.

With the maturity and redemption of the above cash management products, the related special settlement accounts have no further planned use. On the same day as the redemption, the company and its subsidiaries deregistered the following accounts:

The announcement also discloses that, as of the date of this announcement, the balance of the company and its subsidiaries’ cash management using a portion of temporarily idle raised funds is RMB 0 million, with no overdue funds not yet recovered. In addition, the maximum single-day balance and the usage period have not exceeded the scope authorized by the board of directors. Furthermore, the company and its subsidiaries still hold demand deposits (agreed deposits) within their raised-funds special accounts. This portion of funds is demand-based and can be withdrawn as needed. As of now, the total agreed deposit balance is 146.9756 million yuan.

Jiangnan New Materials stated that the company will strictly manage and use raised funds in accordance with relevant regulations to ensure the safe and effective use of raised funds, and will earnestly safeguard the interests of the company and all its shareholders.

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