Shanghai Xuerong secures CNY 40m credit line

Shanghai Xuerong Bio-Technology (SZSE:300511) announced that it has secured a comprehensive credit line of up to CNY 40 million from the Fengxian branch of the Shanghai Rural Commercial Bank. To secure the credit facility, the company has provided a mortgage guarantee consisting of land and property. The move aims to address the company's working capital needs for daily operations. The announcement confirms that the mortgage guarantee is within the board's authority and does not require shareholder approval.