According to the Zhitong Finance App, Minxin Group (00222) issued an announcement. On October 19, 2022, the company subscribed to capital securities to be issued by Chiyu Bank, with a subscription amount of 3 million US dollars (equivalent to about HK$23.55 million).

From August 15, 2022 to September 15, 2022, the Group held certain deposits called structured deposits at Jiyou Bank through Fujian Minxin. The maximum risk amount at the relevant time was RMB 85 million (equivalent to approximately HK$93.68 million).

Bank of Xiamen is a joint stock city commercial bank established in China and is an associated company of the company. Chiyu Bank is a subsidiary of Bank of Xiamen. It operates banking business in Hong Kong and provides a full range of commercial banking services. As a major investment of the Bank of Xiamen, Jiyou Bank achieved good financial performance in its daily business, and the capital securities issued in previous years had a good distribution record. The board of directors believes that the subscription will strengthen the company's comprehensive cooperation with Chiyu Bank in the future.

The subscription transaction provides a good investment opportunity to use a number of internal cash resources to expand the company's investment portfolio and obtain ideal returns, while also helping to improve the efficiency of the Group's capital use.