FAW Jiefang forecasts 2025 financial dealings with FAW Finance

FAW Jiefang Group (SZSE: 000800) announced its estimated financial business amounts with FAW Finance Co., Ltd. for the year 2025. The company expects a maximum daily deposit balance of RMB 30 billion, with interest rates benchmarked against the People's Bank of China. A credit line of RMB 15.3 billion is anticipated, including RMB 6 billion in loans at rates aligned with PBOC regulations. The company also expects RMB 10 billion in bill discounting activities, with rates referencing market levels. These transactions, classified as related-party dealings due to FAW Group's controlling stake in both entities, require shareholder approval, with FAW Group abstaining from the vote. In 2024 deposits totalled RMB 8.9 billion and bank acceptance bills totalled RMB 1.9 billion. The proposal has been approved by the board of directors.