Xuerong BioTech gets additional loan commitment from controlling shareholder

Shanghai Xuerong Bio-Technology (SZSE:300511) announced that its controlling shareholder, Yang Yongping, will increase the amount of loans provided to the company. The company's board of directors approved the increase on June 9th. This decision follows the initial approval for loans totaling CNY 40 million from Yang Yongping and CNY 20 million from Shanghai Wanzi Qianhong Intelligent Technology back in March.