China Financial Services Holdings Limited (HK:0605) has released an update.
China Financial Services Holdings Limited has entered into a new financial arrangement, providing a one-month loan of RMB2,000,000 to Customer BY with a 24% annual interest rate. This transaction, coupled with a previous six-month loan of RMB6,500,000 to the same borrower, forms a discloseable transaction under the Listing Rules, as the combined loans exceed 5% of the company’s ratios. The loans are secured against three properties, with an independent valuation of approximately RMB14,380,000, and include a personal guarantee for repayment.
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