China New City Commercial Development Ltd (HK:1321) has released an update.
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China New City Commercial Development Ltd. has entered into a new three-year financial framework agreement with Zhong An Cayman to continue providing financial advances with a cap of RMB1,800 million per year from 2025 to 2027. These transactions are classified as major and continuing connected transactions under Hong Kong’s listing rules, requiring shareholder approval due to their significant scale. The company plans to hold an extraordinary general meeting for independent shareholders to approve the agreement.
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