Summary by Futu AI
Tianqi Lithium Corporation ("the Company") announced on October 30, 2024, that it will use up to RMB 1 billion of its own idle funds for entrusted wealth management. This decision has been approved by the 17th meeting of the sixth board of directors and the 10th meeting of the sixth board of supervisors of the Company. The investment will mainly focus on short-term (within one year) wealth management products with high security and good liquidity, mainly structured deposits. The Company stated that this move aims to improve the efficiency of fund utilization and create more investment returns for shareholders, while ensuring the daily operational fund needs and principal security. The Company has taken corresponding risk control measures and Morgan Stanley Securities (China) Co., Ltd. has conducted a reasonable and necessary verification, considering it complies with relevant regulations and has no objections to this entrusted wealth management arrangement.