Yunnan Energy Enters Factoring Deal with UREC (HK)

Yunnan Energy International Co. Limited (HK:1298) has released an update.

Yunnan Energy International Co. Limited has entered into a US$1.73 million non-recourse factoring agreement with UREC (HK), transferring its accounts receivables to secure the facility amount. As a connected transaction under the Hong Kong Listing Rules, the deal is exempt from independent shareholders’ approval but requires reporting and announcement. This strategic financial move underscores the company’s efforts to optimize cash flow management.

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