Shanghai Dazhong Public Utilities (Group) Co., Ltd. Class H (HK:1635) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Shanghai Dazhong Public Utilities (Group) Co., Ltd. has announced a connected transaction where its subsidiary, Dazhong Factoring, will provide up to RMB50 million in factoring financing to the associated company Dazhong Wanxiang. The deal involves the transfer of accounts receivable from Dazhong Wanxiang to Dazhong Factoring with a maximum term of 12 months and an annual interest rate of 4.9%. This transaction is part of a series that falls under the announcement requirements of the Listing Rules, but does not require independent shareholder approval.
For further insights into HK:1635 stock, check out TipRanks’ Stock Analysis page.