Beijing Capital Development approves related-party financing, schedules new board election

Beijing Capital Development (BCCD) shareholders approved a proposal for the company to secure perpetual bond financing from its controlling shareholder, Beijing Capital Development Holding (Group) Co., Ltd. The resolution passed during the 2025 fifth extraordinary general meeting of shareholders held on September 26, 2025. This was classified as a related-party transaction, with the controlling shareholder and its affiliates abstaining from voting.

The board also convened its 49th meeting, approving the nomination of Mr. Wang Hongwei as a candidate for director, following Mr. Ruan Qingge's resignation from the board and its strategic and investment and audit committees. The board also elected Mr. Li Jie and Mr. Zhang Guohong to these committees, respectively, to meet minimum member requirements. Mr. Wang Hongwei previously served as the chief economist and supervisor for BCCD.

The company further decided to issue medium-term notes of up to CNY 20 billion, with a maturity of no more than 10 years, and has scheduled its sixth extraordinary general meeting of shareholders for October 15, 2025, to formally elect Mr. Wang Hongwei as director.