Guangdong Songyang: New board, subsidies, and bond issuance plans

Guangdong Songyang Recycle Resources (SSE:603863) recently announced key business decisions. First, a new board has been instated and will continue their term until 2026. Simultaneously, an audit committee for the board has been proposed. A set of environmental subsidies has been approved, as the company emphasizes its commitment to recycling and re-use processes. Finally, the board seeks approval at the annual general meeting for a bond issuance, for the use of working capital. The specific details regarding the bond will be presented at a later date. These decisions, taken together, signal a new phase of operational and financial strategizing for Guangdong Songyang, which it hopes will lead to a return to profitability.