IPE Group Limited (HK:0929) has released an update.
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IPE Group Limited has announced that its subsidiary, Wuhu Inno Hydraulic Technology Co., Ltd., has secured a working capital loan facility of up to RMB 20 million from Nanyang Commercial Bank (China) Limited Guangzhou Branch. The loan is intended to cover daily operational costs such as goods purchases, utility payments, and salaries, with interest to be paid quarterly and full repayment one year after the initial drawdown.
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