SCSF(SH:600779) Zheng Quan Zhi Xing·2025-05-23 13:14Core Points - The company held its third temporary board meeting of the 11th session on May 23, 2025, via communication voting, with all 9 directors participating [2]. - The board approved a proposal to purchase professional liability insurance for directors, supervisors, and senior managers to protect their legal rights and reduce risks associated with their duties [2][3]. - The company plans to apply for a bank credit limit of up to 3 billion RMB to ensure stable and sustainable development, with the credit limit being available for use until the annual shareholders' meeting in 2025 [3]. - The board also approved an extension of the 2021 employee stock ownership plan, which was set to expire on May 23, 2025 [3][4]. Proposal Details - The professional liability insurance will cover civil compensation claims due to unintentional violations, crisis management costs, and legal service fees, with a total coverage limit of 100 million RMB [3]. - The insurance will be underwritten by China Ping An Property Insurance Co., Ltd., with a premium estimated to be within 360,000 RMB [3]. - The bank credit application will allow for revolving use of the credit limit, with specific financing terms to be agreed upon with the banks [3].