Summary by Moomoo AI
SHAN GAO XIN ENERGY GROUP CO., LTD. (HEREINAFTER REFERRED TO AS THE “COMPANY”) ANNOUNCED ON 30 APRIL 2024 THAT ITS WHOLLY OWNED SUBSIDIARIES BEIQING SMART AND DEVELOPMENT BANK AND NORTHERN INTERNATIONAL TRUST HAVE ENTERED INTO A TRUST AGREEMENT. The trust program is a closed-ended pooled trust scheme with a size of RMB16.7 billion, with Development Bank subscribing to RMB100 billion and Beiqing Smart subscribing to RMB6.7 billion for junior subordinated trust units. Pursuant to Chapter 14 of the Listing Rules, this transaction constitutes a disclosable transaction as the applicable percentage is between 5% and 25%. Funds from the trust plan will be used to repay Beiqing Smart's existing high-interest debt, optimize its financing structure, reduce financial costs, and support capital requirements for the Group's...Show More