NJTC: Plans to use reserve funds to cover losses and sign a financial services agreement with related parties

Zhitong
2025.11.03 08:55

NJTC announced that the third extraordinary general meeting of shareholders will be held on November 12, 2025, to review two proposals. The first is to use the statutory reserve to offset losses. As of the end of 2024, the parent company's undistributed profits are -1.574 billion yuan, which will first offset the surplus reserve of 3.1939 million yuan, and the insufficient portion of 1.571 billion yuan will be made up with capital reserves, resulting in undistributed profits becoming 0 yuan after implementation. The second is to sign a "Financial Services Agreement" with the related party China Merchants International Finance, which is a subsidiary of China Merchants Group, to provide deposit, settlement, and other services for NJTC and its subsidiaries. The agreement will last for three years, with a daily end deposit balance not exceeding 500 million equivalent Hong Kong dollars and a loan balance not exceeding 1 billion equivalent Hong Kong dollars

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