Sunshine 100 China Holdings Ltd. (HK:2608) has released an update.
Sunshine 100 China Holdings Ltd has disclosed a USD 10 million loan agreement with a connected person at the subsidiary level, originally set for repayment in January 2017 but extended annually through December 2021. The borrower, holding a significant stake in the subsidiary, was not previously announced due to an oversight, violating the Hong Kong Stock Exchange’s Listing Rules. This loan, along with its extensions and implications, raises compliance and financial transparency concerns for the company.
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