Shang Hai Zheng Quan Bao·2025-06-26 18:43Meeting Summary - The annual general meeting of Shanghai Bailian Group Co., Ltd. was held on June 26, 2025, with no resolutions rejected [2][4] - The meeting was convened by the board of directors and chaired by Mr. Cao Hailun, with compliance to the Company Law and Articles of Association [2][3] Attendance - Out of 9 current directors, 8 attended the meeting, with some participating via video; the chairman was absent due to health reasons [3] - Out of 3 current supervisors, 2 attended, with the supervisor chairman absent for work reasons [3] Resolutions Passed - The following resolutions were approved: - 2024 Annual Board Work Report [4] - 2024 Annual Supervisory Board Work Report [4] - 2024 Annual Report Full Text and Summary [5] - 2024 Financial Settlement and 2025 Financial Budget [5] - 2024 Profit Distribution Proposal [5] - Proposal for 2025 Comprehensive Credit Line Application [5] - 2024 Daily Related Transactions and 2025 Estimated Transactions [5] - Financial Service Agreement with Bailian Group Financial Co., Ltd. [5] - Proposal for Opening Guarantee Pool Business [5] - Proposal for Purchasing Directors, Supervisors, and Senior Management Liability Insurance [6] - Non-independent Director Remuneration Plan [6] - Change of Accounting Firm [6] - Proposal to Cancel Supervisory Board and Amend Articles of Association [6] - Amendments to Shareholders' Meeting Rules [6] - Amendments to Board Meeting Rules [6] - Financial Assistance Extension to Shanghai Shangying Bailian Cinema Management Co., Ltd. [6] - Land Reserve Proposal [7] Legal Compliance - The meeting was witnessed by Guohao Law Firm, confirming that the convening and procedures complied with relevant laws and regulations [7] Guarantee Pool Business Update - The company has approved the establishment of a guarantee pool with a limit of up to RMB 200 million, with specific allocations for subsidiaries based on their debt ratios [10][12] - As of the announcement date, the company and its subsidiaries have applied for a total guarantee amount of RMB 55.72 million, with the company assuming joint liability for RMB 46.52 million [11][10] Subsidiary Financials - The wholly-owned subsidiary, Dongfang Department Store Co., Ltd., reported total assets of RMB 20.82 million and total liabilities of RMB 38.58 million as of March 31, 2025, with a net asset deficit [14]