Core Viewpoint - Changhong Huayi announced the approval of a non-recourse factoring business for accounts receivable, with a financing amount not exceeding 1.4 billion yuan, aimed at improving cash flow and reducing risks [1] Group 1: Business Details - The company plans to conduct the factoring business with non-related institutions [1] - The financing period will last from the approval of the shareholders' meeting until the next annual shareholders' meeting approves a new limit [1] - The factoring business does not constitute a related party transaction or a major asset restructuring [1] Group 2: Financial Implications - The transaction will involve certain accounts receivable from the company and its subsidiaries [1] - The initiative is expected to facilitate quicker cash collection and mitigate financial risks [1] - The management team is authorized to make decisions regarding this business, while the finance department will implement it, with independent directors having the right to supervise and inspect [1]