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Sunfonda Group Holdings Ltd. ( (HK:1771) ) has shared an announcement.
Sunfonda Group Holdings Ltd. has announced its intention to enter into a master facilities agreement with the Shaanxi Branch of Bank of China Limited, which will provide a loan facility of up to RMB300 million to its subsidiary, Shaanxi Sunfonda Automobile Technology Development Co., Ltd. The company will also provide a corporate guarantee to ensure the subsidiary’s obligations under the agreement are met. This move is seen as beneficial for the group’s business operations by providing additional financing resources, and it reflects fair and reasonable terms negotiated at arm’s length. The agreement does not constitute a notifiable or connected transaction under Hong Kong’s listing rules.
More about Sunfonda Group Holdings Ltd.
Sunfonda Group Holdings Ltd. operates in the automotive industry, focusing on automobile technology development. The company is involved in providing automotive services and products, with a market focus on expanding its business operations through strategic financial agreements.
YTD Price Performance: 7.69%
Average Trading Volume: 47,733
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$168M
See more insights into 1771 stock on TipRanks’ Stock Analysis page.