Tianjin 712 gets loan for share increase plan

Tianjin 712 Communication & Broadcasting (SSE:603712) announced that its controlling shareholder, Tianjin Zhibo Intelligent Technology Development Co., Ltd. ("Zhibo Technology"), has obtained a loan commitment and signed a loan contract with Bohai Bank Tianjin Branch for CNY 49.5 million. The loan, with a term not exceeding three years, is specifically designated to finance Zhibo Technology's plan to increase its holdings of Tianjin 712 A shares through centralized competitive bidding. This plan, initially announced on January 18, 2025, involves Zhibo Technology increasing its stake by between CNY 50 million and CNY 55 million within six months. The company noted the remaining funds for the share increase will be from Zhibo Technology's own capital. Tianjin 712 will continue to monitor the share increase plan and fulfill its disclosure obligations.