Longping High-Tech strengthens financial ties with CITIC Finance

Yuan Longping High-Tech Agriculture Co., Ltd. (Longping High-Tech) has approved a financial services agreement with CITIC Finance Company Limited. The agreement, a related party transaction due to common control by CITIC Group, will provide Longping High-Tech with comprehensive financial services including deposits, integrated credit, and settlement. The agreement, valid for three years, adheres to competitive pricing principles, ensuring that deposit interest rates are not lower and lending rates are not higher than those offered by other domestic financial institutions. The maximum daily deposit balance is capped at 1 bn yuan, and the maximum integrated credit line is 2 bn yuan.

The board of directors and independent directors of Longping High-Tech unanimously approved the agreement, emphasizing its necessity for operational efficiency and fair pricing. A risk disposal plan for financial dealings with CITIC Finance was also reviewed and approved by the board. As of June 30, 2025, CITIC Finance reported total assets of 44.788 bn yuan and total owner’s equity of 8.798 bn yuan, with all regulatory indicators meeting compliance requirements.

Additionally, Longping High-Tech passed resolutions to revise its Articles of Association, eliminating the supervisory board and transferring its functions to the audit committee. The company also appointed Yuan Dingjiang as a special consultant to advise on strategic planning and brand management. These changes aim to optimize corporate governance and enhance the company's long-term development.