Xinhua Department Store approves credit and guarantee proposals

Yinchuan Xinhua Department Store Commercial Group (SSE:600785) announced the successful passage of resolutions at its first extraordinary general meeting of shareholders for 2025. Key approvals included proposals for the company and its subsidiaries to apply for comprehensive credit lines from banks and to provide mutual guarantees. A total of 307 shareholders and proxies, representing 51.3336% of the company's voting shares, attended the meeting held on February 28, 2025. The proposal for comprehensive credit lines passed with 99.3244% approval from A-share holders, while the mutual guarantee proposal saw 99.2234% approval. Shareholders also approved the company's projected daily related-party transactions for 2025 with 94.0785% approval from A-share holders. The legal validity of the meeting and its resolutions was confirmed by the Ningxia Fanghe Round Law Firm.