Yue Da International Holdings Limited (HK:0629) has released an update.
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Yue Da International Holdings Limited has announced a new reverse factoring agreement through its subsidiary, Yueda Commercial Factoring, with Yancheng Jinruicheng, offering a credit limit of RMB 50 million at an annual rate of 8-9%. This agreement will provide Yancheng Jinruicheng with accounts receivable financing and services from September 2024 to September 2025. The transaction is categorized as discloseable under the Listing Rules due to its percentage ratio, mandating reporting and announcement obligations.
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