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Lopal Tech Subsidiary Subscribes to 100-Million-Yuan ICBC Wealth Product

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Jiangsu Lopal Tech (SHA:603906, HKG:2465) non-wholly-owned subsidiary, Longpan Times, subscribed to a 100-million-yuan fixed-income open-ended wealth management product with ICBC (SHA:601398, HKG:1398).

The non-principal-guaranteed floating-return product has no fixed term, carries a low-risk rating and requires at least 80% investment in debt assets, according to a Tuesday aftermarket filing with the Shanghai bourse.

Shares of the automotive specialty chemicals seller rose 3% on the Shanghai and Hong Kong bourses.

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