Zhejiang Shibao (01057.HK) uses part of the unused funds raised for cash management.

Financial news app, Finance and Economics News, reported that Zhejiang Shibao (01057.HK) recently announced that the company has redeemed some temporarily idle raised funds used to purchase financial products which have reached maturity. The company has continued to use 18 million RMB of idle raised funds to subscribe to structured deposit products through the Hangzhou Economic and Technological Development Zone branch of China CITIC Bank Limited (hereinafter referred to as "CITIC Bank").