Core Viewpoint - The board of directors of Black Peony (Group) Co., Ltd. has made several significant resolutions during its 10th session, including asset impairment provisions, financial guarantees, and governance structure changes, reflecting the company's proactive approach to financial management and compliance with regulations [1][2][3]. Group 1: Financial Decisions - The company approved a provision for asset impairment for the first half of 2025, amounting to a reversal of credit impairment provisions of 4.4402 million yuan [2]. - The board agreed to a capital reduction of 280 million yuan for its subsidiary, Changzhou Peony Investment Co., Ltd., reducing its registered capital from 730 million yuan to 450 million yuan [2][3]. - The company and its wholly-owned subsidiary, Changzhou Black Peony Technology Park Co., Ltd., will apply for financing up to 570 million yuan, secured by their own assets [3]. Group 2: Governance Changes - The board resolved to eliminate the supervisory board and transfer its responsibilities to the audit committee, amending the company's articles of association accordingly [4][5]. - Several governance documents, including the rules for shareholder meetings and the prevention of major shareholders and related parties from occupying company funds, were revised to align with the latest legal requirements [5][6][7]. Group 3: Social Responsibility and Donations - The company committed to donating 5 million yuan to the Changzhou Tian Ning District Shuren Education Development Foundation over five years, with an annual contribution of no less than 1 million yuan [4]. Group 4: Upcoming Events - The company has scheduled its first extraordinary general meeting for 2025 on September 10, 2025 [15].

Group 1 - The core process of leveraging a stock account involves multiple steps, including opening a credit account, determining financing limits, and adhering to operational regulations [1][2][4] - Opening a credit account is the first step, requiring investors to submit relevant materials and complete a review process, which is essential for enabling leverage [1] - Financing limits are determined based on the investor's asset status and risk rating, and these limits can be adjusted dynamically according to changes in the account's assets [1] Group 2 - The operation of leveraging a stock account must comply with designated restrictions on the underlying assets, which are selected based on liquidity and stability to mitigate risks [2] - Maintaining the collateral ratio is a critical risk management aspect, where the total assets to total liabilities ratio must be monitored to avoid forced liquidation [4] - Investors must be aware of the warning and liquidation lines related to the collateral ratio to manage risks effectively during the leveraging process [4]