Core Viewpoint - The Financial Regulatory Administration has released the "Management Measures for Financing Leasing Business of Financial Leasing Companies," which aims to regulate the entire process of financing leasing, emphasizing compliance, risk management, and internal controls [1][2]. Group 1: Regulatory Framework - The new measures cover all aspects of financing leasing, including due diligence, approval processes, contract execution, and post-lease management, with specific requirements for each stage [1]. - Compliance with leasing object types is highlighted as a prerequisite for the legality of financing leasing operations [1]. Group 2: Risk Management - The measures establish clear risk management and internal control requirements, addressing credit risk, concentration risk, operational risk, and related party transaction risk [1]. - Financial leasing companies are required to enhance internal controls, internal audits, and management of employee behavior, particularly in key areas of operational leasing asset management and overseas business [1]. Group 3: Sale and Leaseback Business - To regulate sale and leaseback operations, the measures mandate verification of the lessee's ownership of the leased asset and proper valuation management to prevent inflated assessments [2]. - The approval process stipulates that the amount of sale and leaseback financing must not exceed the asset's value, ensuring the authenticity of ownership transfer and the lessee's financing needs [2]. - The measures aim to eliminate the "high valuation, high loan" arbitrage opportunities, ensuring that funds are genuinely used for production and operations rather than being diverted to prohibited areas [2].

Group 1 - The company held its 21st meeting of the 7th Board of Directors on June 23, 2025, with all 12 directors present, ensuring compliance with legal and regulatory requirements [1][2] - The Board approved the fleet optimization plan for 2025-2026, allowing management to dispose of five older and non-energy-efficient vessels through various methods [1][2] - The Board agreed to revise the company's risk management and internal control management system, with unanimous support from all directors [2] - The Board authorized the purchase of a relatively new second-hand fuel barge by its wholly-owned subsidiary in Singapore to enhance fuel supply capabilities, also receiving unanimous approval [2]