FilingReader Intelligence

Xinhu Zhongbao progresses asset acquisition, provides bn in guarantees

October 10, 2025 at 10:51 AM UTCBy FilingReader AI

Xinhu Zhongbao announced progress on its share issuance to acquire a 95.4559% stake in Guangdong Xiandao Rare Material Technology Co., Ltd. from 48 shareholders. The transaction also involves raising supporting funds from up to 35 specific investors. The company confirms that the asset acquisition is not expected to constitute a major asset reorganization or backdoor listing, but it will be a related party transaction. The deal is still subject to further board and shareholder approval, as well as regulatory consent, with timing uncertain.

In a separate announcement, Xinhu Zhongbao confirmed significant guarantees for its subsidiaries. It provided a CNY 70,048.39 guarantee for Xinhu (Hong Kong) Investment Co., Ltd., and CNY 45,000 for Zhejiang Yunsheng Investment Group Co., Ltd. These guarantees, along with others, bring the total external guarantees to CNY 213.68 bn, representing 51.00% of the company's net assets. The board and shareholders have approved these guarantees, which are intended to support the subsidiaries' operational development and liquidity.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

SSE:600208Shanghai Stock Exchange
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