FRIENDTIMES (06820.HK): Redeems China Merchants Bank Wealth Products with About RMB 61.8mn Principal

NewTimeSpace News: On 21 October 2026, FriendTimes Inc. (the "Company") announced that, during the period from 30 January 2026 to 21 October 2026 (being the dates on which the redemption proceeds were credited), Jin Hong Investment Partnership and Hong Xin Investment, both wholly-owned subsidiaries of the Company, redeemed open-ended wealth management products offered by China Merchants Bank with an aggregate principal amount of approximately RMB 61,800,000. As at the date of the announcement, the Group has fully redeemed the open-ended wealth management products subscribed with China Merchants Bank.

The announcement disclosed that, during the period from 26 January 2026 to 23 April 2026, the Group subscribed for open-ended wealth management products offered by China Merchants Bank in an aggregate amount of approximately RMB 61,800,000; these products are fixed-income wealth management products with no fixed maturity date and are redeemable at the Group's discretion. Six redemptions were made: Jin Hong Investment Partnership subscribed on 26 January 2026 for CMB Wealth Management Daily Gold No. 109 C with a subscription amount of RMB 20,000 thousand at risk level R1, redeemable on any day, applied for redemption on 29 January 2026 with proceeds credited on 30 January, redeeming principal of RMB 20,000 thousand and gain of RMB 2.603 thousand; Jin Hong Investment Partnership subscribed on 26 January 2026 for three tranches of the seven-day holding period No. 58 product (CMB Enjoy) at risk level R2, redeemable after a minimum holding period of seven calendar days, in amounts of RMB 4,982 thousand, RMB 19,915 thousand and RMB 6,003 thousand, applied for redemption on 7 April, 6 May and 13 May 2026 respectively with proceeds credited on the following day and gains of RMB 18.908 thousand, RMB 96.900 thousand and RMB 31.546 thousand respectively; Hong Xin Investment subscribed on 26 January 2026 for the same product in the amount of RMB 900 thousand at risk level R2, applied for redemption on 20 May 2026 with proceeds credited on 21 May and a gain of RMB 4.992 thousand; and Hong Xin Investment subscribed on 23 April 2026 for Minsheng Wealth Management Guizhu Shuangyueying No. 8 A in the amount of RMB 10,000 thousand at risk level R2, redeemable on each product open day after a minimum holding period of 60 days, applied for redemption on 19 October 2026 with proceeds credited on 21 October and a gain of RMB 98.738 thousand. The six redemptions involved an aggregate principal of RMB 61,800 thousand and aggregate gains of RMB 253.687 thousand.

The Company stated that the applicable ratios of each of the redemption transactions, when calculated individually, do not exceed 5%; as the redemption transactions are similar in nature and were each conducted with the same financial institution within a 12-month period, under Rule 14.22 of the Listing Rules the principal amounts of the redemption transactions should be aggregated and treated as one transaction with China Merchants Bank for the purpose of calculating the relevant percentage ratios. As the highest applicable percentage ratio calculated on an aggregated basis exceeds 5% but is below 25%, the transactions completed under the redemptions constitute a discloseable transaction and are subject to the reporting and announcement requirements under Chapter 14 of the Listing Rules, but are exempt from the shareholders' approval requirement. The board considers that the Group's subscription for wealth management products using its internal surplus cash reserves is aimed at fully utilising idle funds and improving their yield, and that the redemptions will help enhance the overall return and flexibility of the Group's idle funds, having been entered into on normal commercial terms and being fair and reasonable. To the best of the directors' knowledge, information and belief after making all reasonable enquiries, based on publicly disclosed information, China Merchants Bank and its ultimate principal beneficial owners are third parties independent of the Company and its connected persons.