Core Viewpoint - The company is seeking shareholder approval for a proposal regarding its subsidiary, Weifang Yaxing New Materials Co., Ltd., to apply for a project loan of 490 million RMB from a banking consortium and to provide a guarantee for this loan [1][5][6] Group 1: Meeting Details - The third extraordinary general meeting of shareholders is scheduled for July 14, 2025, at 14:00, with a registration date of July 7, 2025 [1] - The meeting will be held at the company's conference room in Weifang, Shandong Province, and will include both on-site and online voting [1][2] Group 2: Loan and Guarantee Proposal - The subsidiary plans to apply for a total loan of 490 million RMB, with contributions from Qingdao Bank (250 million RMB), Rizhao Bank (150 million RMB), and Weihai Bank (90 million RMB), with a maximum term of 5 years and an annual interest rate not exceeding 5% [1][5] - The company will provide a credit guarantee for the loan, with the guarantee amount not exceeding 490 million RMB, and no counter-guarantee measures will be taken [1][5][6] Group 3: Subsidiary Financial Overview - Weifang Yaxing New Materials Co., Ltd. has total assets of approximately 1.89 billion RMB and total liabilities of approximately 1.42 billion RMB, resulting in a net asset value of approximately 474 million RMB [4] - The subsidiary reported an operating income of approximately 97.64 million RMB and a net loss of approximately 20.56 million RMB for the most recent period [4] Group 4: Necessity and Reasonableness of Guarantee - The guarantee is deemed necessary to ensure the smooth operation of the subsidiary and the successful launch of new projects, such as PVDC [5][6] - The company maintains control over the subsidiary's operations and finances, which justifies the provision of the guarantee without proportional support from other shareholders [5][6] Group 5: Independent Director Election - The company is proposing the election of a new independent director, Qi Zhiwen, following the resignation of the previous independent director due to personal reasons [6][7] - The election will utilize a cumulative voting system, and the new director will also take on multiple committee roles within the board [7]