Gelonghui, April 30, 丨 Shangao New Energy (01250.HK) announced that on April 30, 2024, Beiqing Wisdom (an indirect wholly-owned subsidiary of the company, as an inferior client and subordinate beneficiary) will enter into trust contracts with Industrial Bank (as a priority client and priority beneficiary) and Northern International Trust (as a trustee). According to the trust contract, Beiqing Wisdom and Industrial Bank agreed to subscribe for trust units at a cost of RMB 670 million and RMB 1 billion respectively.
According to the announcement, on the one hand, the funds raised by the trust plan can be used to repay Beiqing Smart's existing high-interest rate liabilities, optimize the Group's financing structure and reduce financial expenses, and on the other hand, can also be used to support capital requirements for the Group's business expansion. At the same time, the Group's capital debt ratio is expected to decline after the trust plan is listed as a non-wholly-owned subsidiary, thereby enhancing the Group's financial stability and investment and financing capabilities, helping to open up financing space, facilitate low-cost debt financing such as bank loans domestically, improve the Group's credit standards, and reduce financial costs.