Linzhou Heavy Machinery to vote on key capital decisions

Linzhou Heavy Machinery Group [SZSE:002535] announced it will hold an extraordinary general meeting on March 17, 2025, to seek shareholder approval on several key financial decisions. Key proposals include providing guarantees for customer financing from leasing companies, borrowing from the controlling shareholder and related parties, and mutual guarantees between the company and its subsidiaries. A notable proposal involves terminating the "Industrial Robot Production (Phase I) Project" and reallocating the remaining funds, totaling approximately RMB 10 million, to permanent working capital. The company stated that this reallocation aims to optimize resource allocation and improve efficiency. The meeting will allow in-person and online voting. The company must also receive shareholder approval for intercompany guarantees not exceeding RMB 1.3 billion.