Xinhu Zhongbao plans substantial guarantee for subsidiaries in 2025

Xinhu Zhongbao has announced plans to provide guarantees for its subsidiaries, aiming to bolster their business development throughout 2025. The proposed guarantees are split between 31 controlled subsidiaries, which will receive guarantees not exceeding 210 million, and 3 jointly operated/affiliated companies slated for a maximum of 50 million in guarantees. The proposal will be voted on at the Second Extraordinary General Meeting of Shareholders. The guarantees will be effective for twelve months following shareholder approval. The board of directors has already approved the proposed guarantees, citing the enhanced operational capabilities and manageable risk. The move aligns with regulatory guidelines, including the "Company Law" and Shanghai Stock Exchange regulations.