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Pu’er Lancang Ancient Tea Co., Ltd. ( (HK:6911) ) has provided an update.
Pu’er Lancang Ancient Tea Co., Ltd. said its wholly owned unit Guangzhou Kangrui Lancang Ancient Tea E-commerce Co., Ltd. has signed a credit agreement with the Guangzhou branch of China Merchants Bank for a RMB10 million working capital facility. The parent company and another wholly owned subsidiary, Pu’er Lancang Ancient Tea Renhe Co., Ltd., will each provide maximum-amount irrevocable guarantees on a joint and several basis for all indebtedness under the facility.
The group stated that the arrangement, reached on normal commercial terms after arm’s-length negotiations, is intended to diversify its financing channels and optimize its liability structure while replenishing capital for operations. The board, including all independent non-executive directors, considers the credit facility and related guarantees fair, reasonable and in the interests of the company and its shareholders, highlighting the move as a step to strengthen financial flexibility and support business development.
More about Pu’er Lancang Ancient Tea Co., Ltd.
Pu’er Lancang Ancient Tea Co., Ltd. is a Chinese tea producer focused on Pu’er and related tea products, operating through subsidiaries that include e-commerce and regional units. Listed in Hong Kong, the group targets the consumer tea market and leverages financial institutions to support working capital and operational growth.
Average Trading Volume: 191,577
Technical Sentiment Signal: Hold
Current Market Cap: HK$165.9M
For an in-depth examination of 6911 stock, go to TipRanks’ Overview page.