Chongqing Hongjiu Fruit Co. Ltd. Class H (HK:6689) has released an update.
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Chongqing Hongjiu Fruit Co., Ltd. has announced that its controlling shareholder, Mr. Deng Hongjiu, has pledged approximately 5.59% of his shares as collateral for loan facilities totaling RMB 159 million from the Chongqing Branch of Industrial Bank Co., Ltd. This recent pledge increases Mr. Deng’s total share collateral to about 12.57% of the company’s issued shares. The loans are intended to support the company’s financial needs, and the lender is stated to be an independent third party.
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