Zheng Quan Zhi Xing·2025-04-01 14:12Overview - The company signed a financial service framework agreement with Jinjiang Finance Company to continue receiving financial services until June 30, 2028 [1][6] Related Transactions - The agreement constitutes a related party transaction as both the company and Jinjiang Finance are controlled by Jinjiang International Group [1][4] - As of March 31, 2025, the company had a loan balance of 1,192.91 million RMB and a deposit balance of 3,465.13 million RMB with Jinjiang Finance [1] Financial Institution Details - Jinjiang Finance Company was established in October 1997 with a registered capital of 1 billion RMB and is a non-bank financial institution [2] - The company holds 85.50% of Jinjiang Finance, while Jinjiang International Group holds 9.50% and Shanghai Jinjiang Hotel Co., Ltd. holds 5% [2] Financial Data - As of December 31, 2024, Jinjiang Finance reported total assets of 11,369.66 million RMB, equity of 1,637.52 million RMB, and a net profit of 52.07 million RMB [3] Service Details - Jinjiang Finance will provide various financial services, ensuring that interest rates and fees are not higher than those charged by domestic commercial banks [5][9] - The maximum daily loan balance is capped at 6.7 billion RMB, and the maximum daily deposit balance is capped at 5 billion RMB [5] Purpose and Impact - The agreement allows the company to better monitor and allocate funds, benefiting from Jinjiang Finance's understanding of its operations and providing quicker services compared to other banks [7][9] Approval Process - The agreement was approved by the company's board and will be submitted for shareholder approval, with related shareholders abstaining from voting [4][8]