BBMG advances financial aid to subsidiaries, partners

BBMG Corp. (SSE: 601992) announced progress in providing financial assistance to subsidiaries and partners. The company's subsidiary, Beijing Jinyu Real Estate Development Group, will allocate surplus funds alongside China Communications Real Estate to Hefei Jinzhong Jinghu Real Estate Development, with Jinyu providing up to ¥7.65 million. Additionally, Jinyu Real Estate will provide ¥119 million to Beijing Yichang Real Estate, in which it holds a 35% stake. Both financial actions will support development and operations within established shareholder frameworks. These moves are in line with BBMG's authorized 2023 annual shareholder resolution, with funds managed closely to mitigate risks and protect company assets. Post this announcement, the total financial assistance will sum to ¥1,728,516.53, with the overall support remaining within approved thresholds.