Jingyuntong to mortgage assets for bank loans

Beijing Jingyuntong Technology (SSE:601908) announced the resolutions passed at its Fifth Meeting of the Sixth Board of Directors, held on April 16, 2025. The company's board approved a proposal to mortgage land, buildings, and construction in progress to several banks, including the State Development Bank of China (Beijing Branch), Bank of Communications (Beijing Tongzhou Branch), Hangzhou Bank (Beijing Branch), and China CITIC Bank (Beijing and Wuxi Branches). The assets, with an estimated value of CNY1.193 billion, will be used to secure loan extensions, refinancing, and other related business. The board has authorized the management to implement the resolution and handle all related matters. A portion of the mortgage will serve as a guarantee for a subsidiary’s loans, falling within the company’s existing authorized guarantee limit. The company will provide updates on the progress as necessary.