Gome Finance Technology Co (HK:0628) has released an update.
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Gome Finance Technology Co., Ltd. has announced a new framework agreement with Ningbo Rongtong Wanjia International Trade Co., Ltd. for providing factoring loans, which are conditional upon the transfer of receivables and capped at RMB 190 million. The agreement, integral to the company’s commercial factoring business, aims to foster a long-term business relationship and satisfy the Group’s need to increase the loan amount provided. Interest rates for these loans will be between 5% to 7% per annum, reflecting market rates and the borrower’s credit risk.
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