Changshan Beiming secures RMB 2.1 bn loan facility from parent Changshan Group

Shijiazhuang Changshan Beiming Technology Co., Ltd. (Changshan Beiming) announced a plan to obtain a credit facility of up to RMB 2.1 billion from its controlling shareholder, Shijiazhuang Changshan Textile Group Co., Ltd. (Changshan Group). The loan, with a term of 36 months and an interest rate not exceeding Changshan Group's comprehensive financing cost, aims to enhance financing efficiency and lower financing expenses for Changshan Beiming. No collateral is required for this transaction.

The proposed transaction constitutes a connected transaction, as Changshan Group holds a 28.60% stake in Changshan Beiming. The company's board of directors, excluding associated directors, unanimously approved the motion, as did the independent directors, stating it will help improve Changshan Beiming's debt structure and is in the best interest of all shareholders. The transaction still awaits approval from the company's general meeting of shareholders, where Changshan Group will abstain from voting.

As of June 30, 2025, Changshan Group reported total assets of RMB 18,500.59 million and net assets of RMB 5,367.59 million. For the first half of 2025, it achieved operating revenue of RMB 4,935.83 million with a net loss of RMB 97.62 million. Changshan Beiming has no outstanding loans from related parties and previously had associated transactions totaling RMB 29.62 million.