Summary by Moomoo AI
China Unicom announced that its wholly-owned subsidiary Finance Corporation signed an amendment agreement with the Unicom Group, revising the annual ceiling for loans and other trust services under the Financial Services Agreement for 2023 to 2025 to RMB75 billion. The move is aimed at meeting the capital management needs of China Unicom operating companies and improving the efficiency of its use of funds. The change agreement was approved by the Board of Directors on March 19, 2024 and has the support of independent non-executive directors who believe that the terms are fair and reasonable and in the overall interests of the company and shareholders. The other terms and conditions of the change agreement remain unchanged. The Unicom Group, as the ultimate parent company of China Unicom, indirectly controls approximately 79.9% of the issued share capital through its shareholdings in Unicom BVI and Unicom Group BVI.