Yue Da International Holdings Limited (HK:0629) has released an update.
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Yue Da International Holdings Limited, through its subsidiary Yueda Commercial Factoring, has entered a factoring agreement with Yanxi Jingxuan, offering accounts receivables financing up to RMB50 million with an 8%-9% annual return. This agreement marks a significant financial maneuver as it exceeds 5% of the company’s transaction ratio, highlighting its importance under Hong Kong’s listing rules. The deal, secured by state-owned guarantors, enhances Yue Da’s footprint in the financial services sector.
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