Xinhua asks shareholder nod for credit, guarantees, transactions

Yinchuan Xinhua Commercial Group Co., Ltd. will hold its first extraordinary general meeting of shareholders in February 2025, seeking approval on key financial matters. The agenda includes a proposal to secure comprehensive credit lines of up to RMB 3 billion from banks to support working capital and project investments. Shareholders will also vote on a proposal allowing the company and its subsidiaries to provide mutual guarantees within a RMB 1 billion limit, with sub-limits for entities above and below a 70% asset-liability ratio. Additionally, the meeting will address the approval of anticipated daily related-party transactions for 2025, totaling RMB 29.763 million, covering areas like commodity sales, procurement, and service provisions. The meeting will use a combination of on-site and online voting, with results certified by legal counsel.