Yue Da International Holdings Limited (HK:0629) has released an update.
Yue Da International Holdings Limited has announced that its subsidiary, Yueda Commercial Factoring, entered into a reverse factoring agreement with Yancheng Huachen for RMB 50 million, offering services such as accounts receivable financing and collection. The agreement, effective from September 25, 2024, to September 24, 2025, includes an 8% to 9% annual interest rate and administrative fee. This transaction is significant enough to require disclosure under the Listing Rules of the Hong Kong Stock Exchange.
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