According to the Zhitong Finance App, Laifu Harmonic (03952) announced that the company plans to enter into credit agreements with a number of financial institutions. Based on this, the company plans to apply for credit lines totaling RMB 1.5 billion from financial institutions. The proposed credit line is intended to be used (including) for companies and financial institutions to carry out comprehensive business such as working capital loans, fixed asset loans, pledge loans, bank acceptance notes, letters of credit, and bill discounts. The specific terms of the proposed credit limit (including the amount and timing of any withdrawals) are subject to further negotiations and the signing of a credit agreement between the company and the financial institution before implementation.

The Board believes that the proposed establishment of a credit agreement would be beneficial to the Group, as this would provide additional funding for the Group's further development. The board of directors further believes that the proposed establishment of a credit agreement is in the overall interests of the company and its shareholders.

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