Core Viewpoint - Shanghai Yilong is facing financial challenges, with a net asset of 280 million and a need to borrow an equal amount, raising concerns about potential insolvency [1] Company Summary - Shanghai Yilong's operating cash flow is currently insufficient to cover bank loan repayments due to increased supply of office buildings and declining rental prices in the market [1] - To protect shareholder interests, the company is collaborating with Poly Shanghai to provide a loan under the same terms and conditions [1] - Shanghai Yilong is working on optimizing its leasing strategies to improve daily operating cash flow [1]

Core Viewpoint - ST Jinggu announced that its controlling shareholder, Zhou Dafu Investment, plans to donate 51% equity of Boda Digital Technology to the company without any compensation, aiming to enhance the company's operational capacity and optimize its business structure [1][4]. Group 1: Equity Donation - The donation will allow ST Jinggu to hold 51% of Boda Digital Technology, which will be included in the company's consolidated financial statements [1][4]. - Boda Digital Technology is newly established with unfulfilled registered capital and primarily holds intelligent computing server equipment [1][5]. Group 2: Financial Situation - Boda Digital Technology currently has a single client and reported revenue of 6.4061 million yuan, indicating that its future operational performance needs to be monitored [5]. - ST Jinggu is experiencing liquidity issues and lacks the necessary personnel and technical capabilities for ongoing business operations [5]. Group 3: Related Transactions - The asset donation constitutes a related party transaction but does not qualify as a major asset restructuring under the relevant regulations [5]. - To supplement its daily working capital, ST Jinggu plans to borrow 60 million yuan from Zhou Dafu Investment at an annual interest rate of 3.00% for a term of one year [5]. Group 4: Losses and Commitments - Zhou Dafu Investment has issued an unconditional and irrevocable commitment to cover any actual losses incurred by ST Jinggu due to issues related to its subsidiary, Huiyin Wood Industry, before and after the completion of the sale of 51% equity [6]. - ST Jinggu's subsidiary, Huiyin Wood Industry, has faced operational difficulties since 2024, leading to significant losses for the company [6]. Group 5: Recent Developments - ST Jinggu reported a 45.03% year-on-year decline in revenue for the first half of 2025, totaling 123 million yuan, with a net loss attributable to shareholders of 124 million yuan [7]. - The company has established two wholly-owned subsidiaries with a registered capital of 8 million yuan each to support its strategic planning and operational development [7].

Core Points - The meeting of the independent directors of Zhejiang Busen Fashion Co., Ltd. was held on August 4, 2025, to discuss a loan proposal [1] - The independent directors unanimously approved the proposal for borrowing from Baoji Fangwei Tongchuang Enterprise Management Partnership (Limited Partnership) [1][2] - The loan is deemed necessary for the company's operational development, aimed at enhancing liquidity and reducing financial risks [1] Summary by Sections - **Meeting Details** - The meeting was conducted both in-person and via communication methods, with all three independent directors present [1] - The meeting adhered to relevant laws and regulations, as well as the company's articles of association [1] - **Loan Proposal** - The proposal involves borrowing funds to support the company's operational needs and improve cash flow [1] - The transaction was evaluated as fair and reasonable, with no harm to the interests of the company or its shareholders [1] - The decision-making process was confirmed to be legal and effective, with related directors required to abstain from voting [1]