Group 1 - The company held its 12th meeting of the 9th Board of Directors on June 24, 2025, to discuss significant investment and guarantee proposals [2][4][11] - The Board approved an investment agreement with the People's Government of Huai Shang District, Bengbu City, for a new specialized fertilizer project, with a total investment of 1.15 billion RMB [3][41] - The project aims to enhance the company's product structure and market presence in East China, targeting regions such as Jiangsu, Jiangxi, Zhejiang, and Fujian [3][41] Group 2 - The Board also approved a guarantee for a bank credit line of up to 160 million RMB for its affiliate, Hubei Yifeng Lianfeng Mining Co., Ltd., in which the company holds a 40% stake [5][11][20] - The financial risks associated with this guarantee are considered manageable and will not affect the company's normal operations [5][18] - The company has a total guarantee amount of 3.4575 billion RMB, which is 32.69% of its latest audited net assets [20] Group 3 - The investment project includes the construction of a 1 million tons/year specialized fertilizer facility, comprising various types of fertilizers and associated infrastructure [36][41] - The project is expected to take approximately 12 months to complete, with an anticipated start date by December 31, 2025, and completion by December 31, 2026 [36][41] - The agreement with the local government includes commitments for land use and infrastructure support to facilitate the project's development [38][39]