EMEI SHAN(SZ:000888) Zheng Quan Zhi Xing·2025-08-06 10:17Financial Assistance Overview - The company has approved a financial assistance of up to RMB 50 million to its subsidiary, Emei Mountain Cloud Tourism Investment Co., Ltd. (Cloud Travel Investment), to support the daily operations of the "Only Emei Mountain" theater project [1] - The financial assistance will be provided over a period not exceeding 6 years, with interest rates based on the People's Bank of China benchmark lending rate [1] - A second financial assistance of RMB 3.7545 million will be provided for up to two years to cover overdue employee salaries and related costs, with repayment based on the one-year Loan Prime Rate (LPR) [2] Progress of Financial Assistance - As of June 2025, the company has disbursed a total of RMB 50 million in seven installments to Cloud Travel Investment, with amounts ranging from RMB 380,000 to RMB 1.8 million [2] - The overall business performance of the theater project has been below expectations, leading to cash flow difficulties, which raises concerns about the recoverability of the financial assistance [2][3] - The company has requested repayment of RMB 455,000 in interest for the second quarter of 2025, but Cloud Travel Investment has indicated an inability to pay due to the suspension of performances [3] Cumulative Financial Assistance - By the end of June 2025, the total principal amount of financial assistance provided by the company reached RMB 79.5618 million, accounting for 3.04% of the company's latest audited net assets attributable to shareholders [4] - The financial assistance to consolidated subsidiaries accounted for 1.91%, while assistance to non-consolidated entities was RMB 29.5618 million, representing 1.13% of the company's net assets [4] - The company is actively pursuing legal action to recover overdue financial assistance from Yunnan Tianyou Technology Development Co., Ltd., with a favorable ruling obtained from the Sichuan High People's Court [4]