Beijing Ctrowell boosts related-party transactions, appoints new director

Beijing Ctrowell Technology Corp announced a projected increase in ordinary related-party transactions for 2025, raising the total estimated value to 194,179万元. This adjustment, approved by the board on October 21, 2025, adds 1,710万元 in new related purchases and 18,000万元 in new related sales with entities including China Academy of Space Technology and its subsidiaries, and Shanghai Academy of Spaceflight Technology and its subsidiaries. The independent directors approved the transaction, which is subject to shareholder approval.

In related news, the company reappointed ShineWing Certified Public Accountants (Special General Partnership) as its 2025 financial and internal control auditor for a fee of 110万元, including 24万元 for internal control audit. This decision also awaits shareholder approval.

Additionally, the board approved the nomination of Ms. Zhang Nan as a non-independent director, effective upon shareholder approval. Ms. Zhang Nan currently serves as a deputy general manager at China Aerospace Investment Holdings Ltd., a related party to Beijing Ctrowell. The company also released its Q3 2025 financial report, showing a net loss of 158,365,606.68 yuan.