Lifestyle China Group (HK:2136) has released an update.
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Lifestyle China Group Limited has announced a revolving entrusted loan agreement involving its subsidiary Shanghai Ongoing, the Bank as an agent, and Shanghai Joinbuy City Plaza as the borrower, for a total of up to RMB 60 million over three years. The connected transaction, which is aimed at providing working capital, has been deemed fair and reasonable by the Board and Directors, thus exempting it from shareholder approval requirements. This financial move signifies the Group’s strategic financial support to its associated entities, with the terms set in alignment with market rates.
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