Xinte Energy Co., Ltd. Class H (HK:1799) has released an update.
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Xinte Energy Co., Ltd. has announced a significant financial move, with its subsidiaries Sunoasis and Xi’an Electrical entering into agreements to transfer accounts receivables worth approximately RMB429.6 million to a Factoring Company. This transaction, involving connected entities, aims to enhance the company’s liquidity by securing not less than RMB407.0 million after factoring fees. The deal highlights Xinte Energy’s strategic efforts to efficiently manage its financial resources within regulatory frameworks.
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