China National Building Material Company Limited provided additional information on 22 October 2025 regarding its Fund Lending Framework Agreement with Saima IOT. The agreement was originally disclosed on 28 August 2025 and involves Ningxia Building Materials (SSE: 600449), an A-share listed subsidiary in which China National Building Material holds a 49.03% stake.
The annual cap under the agreement is set in light of Saima IOT’s funding requirements to develop and upgrade its “Find a Car” intelligent logistics platform. Saima IOT plans to invest in algorithm enhancements, server infrastructure, and data security measures, while also covering day-to-day operating costs such as vehicle fuel and maintenance. Ningxia Building Materials’ strong financial status and lower financing costs will support Saima IOT’s growth, with a proposed RMB300 million intra-group loan.
The announcement outlines historical loan transactions between the two parties. In 2022 and 2023, Ningxia Building Materials provided loans of RMB600 million and RMB1,000 million, respectively. These previous loans were fully repaid by January 2024 and had no security or guarantee provisions. Both loans were used to support the working capital needs of Saima IOT’s logistics platform.
The company also described the internal control measures taken to ensure compliance with regulatory requirements. Since early 2024, China National Building Material has strengthened its fund-tracking systems and enhanced its reporting mechanisms to verify transactions before announcements are made. Further staff training was offered to reinforce awareness of listing rules and proper disclosure procedures. Ningxia Building Materials carried out a compliance management review, while Saima IOT underwent a risk assessment to address core financial and operational controls.
According to the announcement, these steps aim to prevent lapses in future disclosure and facilitate proper oversight of all lending arrangements to Saima IOT. The board of directors of China National Building Material ratified the previous loans based on suitable commercial terms and confirmed that the transactions align with the company’s strategic goals and operational requirements.