hi BDmy read is that Jinan High-tech Urban are the biggest...

hi BD

my read is that Jinan High-tech Urban are the biggest shareholder of Jinan (they are a listed company), and the approval is for Jigao (jinan subsidiary) and possibly other Jinan subsidiaries to apply to this major shareholder and there parties for the loan up to 1b yuan.

over the last 12 months jinan has offered a lot of approval for loans. just last week they approved the annual approval for a big list of companies for a lot of $$$$. the Chairman's company Mingal Gold has approval renewed to borrow a fair bit. the financing from jinan's side has always been there. this is also why I was very confused by the PC claim a year ago that finance was coming in a few weeks, as this did not seem to be consistent with how Jinan do business through board-shareholder approval as a first step.

when previous resolution approved by board of directors have gone to shareholders they usually get overwhelming approved.

as far as the others two projects go, one refers to a previously arranged loan deal (curious to see how this is relevant).
the other refers to the purchase of a previously owned Jinan Microfinance company by this major shareholder. so probably just noting this as a relevant historical transaction.

I am of the opinion that approval for Triton to do business with a related party (major shareholder) is market news. if it wasn't then why would the announcement be on the shanghai stock exchange?
I suspect that despite its market relevant Triton has made a decison to keep a low profile until there is a done deal to keep good relations with Jinan. looks like Triton is still negotiating loan and they probably don't want public pressure or expectations until final signiture on loan documents.