Gelonghui on August 15, China General account (03969.HK) announced that recently, the company received the "approval of Beijing Banking and Insurance Supervision Bureau on the opening of Tongzao Group Finance Co., Ltd." transferred by the controlling shareholder Tongzao Group. The main contents of the reply are as follows: first, approve the opening of Tongzhao Group Finance Co., Ltd. and issue a financial license. The Chinese name of the company is "General sign Group Finance Co., Ltd." and the English name is "CRSC Finance Company Limited".

Second, it is approved that the registered capital of Tongzhao Group Finance Co., Ltd. is 2 billion yuan, and China Railway Communications signal Group Co., Ltd. contributes 100 million yuan in cash, accounting for 5% of the company's registered capital. China Railway Communication signal Co., Ltd. contributed 1.9 billion yuan in cash, accounting for 95% of the company's registered capital. The domicile of the company is on the west side of Building 1, Building 1, Automobile Museum South Road, Fengtai District, Beijing.