Vesync Co., Ltd. (HK:2148) has released an update.
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Vesync Co., Ltd has provided additional details on its Receivables Discounting Agreement, where the Bank purchases eligible receivables from Etekcity, disbursing 70% of sales invoice amounts upon approval. The agreement includes provisions for the handling of deductions from the buyer’s payments, known as ‘Dilutions’, and sets a Credit Limit of US$60 million. The proceeds from this agreement will bolster the company’s working capital.
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