China Fortune Land greenlights subsidiary guarantees

China Fortune Land Development (SSE:600340) announced the results of its first extraordinary general meeting of shareholders for 2025. The meeting, held in Langfang, Hebei Province, saw the approval of a key resolution concerning guarantees for the company's subsidiaries. A total of 2,308 shareholders and proxies representing 1,661,247,087 shares (42.4467% of total voting shares) participated in the meeting. The resolution passed with overwhelming support, securing over two-thirds of the votes. Specifically, 1,646,632,737 shares voted in favor, 9,197,200 shares voted against, and 5,417,150 shares abstained. The meeting was convened by the board of directors and chaired by Director Feng Nianyi due to the absence of Chairman Wang Wenxue. The proceedings and resolutions were deemed compliant with relevant laws and the company's articles of association by legal counsel.