GRG Banking expands telecom services, updates governance, closes project

GRG Banking Equipment Co., Ltd. announced board approval for a change in its business scope to include "Second-Class Value-Added Telecommunications Services," enhancing its existing "First-Class Value-Added Telecommunications Services" and other IT and financial equipment-related businesses. This strategic expansion aims to align the company's activities with its evolving strategic plan.

The board also approved amendments to the company's Articles of Association to reflect the expanded business scope and updated internal governance policies. These changes involve modifications to Article 15 and Article 144, covering the business scope and investment decision-making authorities respectively, and are subject to shareholder approval.

Additionally, the board approved the closure of the "GRG Banking Fourth-Phase Core Technology Industrialization Upgrade and Expansion Project," which has achieved its intended usable state. This project closure will result in residual raised funds of CNY 18,859,700, including investment returns and bank interest, which will be permanently allocated to supplement the company’s working capital for daily operations. These proposals are slated for discussion and approval at the third extraordinary general meeting of shareholders on December 26, 2025.