SONGFA(SH:603268) Zheng Quan Zhi Xing·2025-06-26 16:34Core Viewpoint - The company is convening its second extraordinary general meeting of shareholders in 2025 to discuss several key proposals related to financing, transactions, and risk management following a significant asset restructuring [1][4]. Group 1: Daily Related Transactions - The company plans to increase the estimated amount for daily related transactions in 2025, which includes procurement of materials, equipment, and services from related parties, such as diesel, industrial gases, and software services [1][6]. - The total estimated amount for these daily related transactions is projected to be 142.9 million RMB, with actual transactions amounting to approximately 26.94 million RMB [5][6]. Group 2: Borrowing Proposal - The company intends to apply for a new borrowing limit of up to 15 billion RMB from its controlling shareholders and related parties to support daily operations and the development of newly acquired assets [6][8]. - This borrowing will have a maximum interest rate not exceeding the Loan Prime Rate (LPR) and will not require any form of guarantee [7][8]. Group 3: Guarantee Plan - A new guarantee plan is proposed with a total limit of 30 billion RMB for 2025, aimed at supporting the daily operations of the company and its subsidiaries [8][9]. - The guarantees will be exclusively for subsidiaries within the consolidated financial statements and will not involve related parties or joint ventures [9][10]. Group 4: Comprehensive Credit Facility - The company seeks to apply for a comprehensive credit facility of up to 50 billion RMB and 200 million USD to ensure smooth operations and reduce financing costs [12][13]. - This facility will cover various financial services, including loans and trade financing, with the final amount subject to approval by financial institutions [13]. Group 5: Foreign Exchange Derivatives - The company plans to engage in foreign exchange derivatives trading to mitigate risks associated with currency fluctuations, with an estimated maximum balance of 1 billion USD [14][15]. - This initiative is aimed at stabilizing the company's financial operations without speculative intentions [15]. Group 6: Entrusted Financial Management - The company proposes to conduct entrusted financial management with a maximum daily balance of 500 million RMB to enhance investment returns while ensuring operational safety [16]. - The management will be authorized to implement this plan within the approved limits and timeframe [16].