Baosight Software renews financial pact, forecasts 2026 transactions

Shanghai Baosight Software announced the proposed renewal of its financial services agreement with Baowu Group Finance Company Limited, a controlled subsidiary of its ultimate controlling shareholder, China Baowu Steel Group Corporation Limited. This agreement, effective from January 1, 2026, to December 31, 2027, will allow Baosight Software and its subsidiaries to open settlement accounts with the finance company for deposits, credit facilities, and settlement services. The renewed agreement specifies a maximum daily deposit balance of yuan 95,000.00 million, a maximum daily loan balance of yuan 5,000.00 million, and a credit limit of yuan 200,000.00 million, with competitive interest rates. This transaction is subject to shareholder approval.

In a related announcement, Baosight Software also projected its routine connected transactions for 2026, forecasting total transaction amounts of yuan 937,000.00 million, an increase from 2025. This projection includes sales, purchases, and leases with China Baowu Steel Group and its subsidiaries. The company highlighted that these transactions are conducted on fair market principles, ensuring no harm to the interests of small and medium shareholders.

Additionally, the board of directors approved the deregistration of Hong Kong Turing, a wholly-owned subsidiary of Shanghai Turing Intelligent Manufacturing Robotics Co., Ltd., to enhance operational efficiency and control costs. These decisions, made during the Eleventh Board of Directors' Third Meeting on December 12, 2025, reflect the company's strategic adjustments and financial management.