Western animal husbandry eyes $7m in bank loans

Xinjiang Western Animal Husbandry (SZSE:300106) announced its Board of Directors approved a resolution to seek shareholder approval for up to RMB 510 million (approximately $7 million USD) in credit facilities from various banks. The move aims to secure sufficient operating funds for the 2025 fiscal year. The company plans to pursue credit lines with ten different banks, including Agricultural Bank of China, China CITIC Bank, and China Everbright Bank, among others. The board also approved providing guarantees totaling RMB 90 million to its subsidiaries for loans and other credit facilities. Both resolutions are subject to shareholder approval at an upcoming meeting.