Summary by Moomoo AI
Yai Dazong Holdings Limited (“Yi Dazong”) announced on 28 March 2024 that it has obtained a comprehensive trust of RMB200 million from Emerging Financial Leasing Limited Liability Company for a one-year term from 13 March 2024 to 12 March 2025. This letter will be used to support the activities of the company's subsidiaries in their day-to-day operations. To this end, Yi Dazong and its wholly-owned subsidiary Yi Dazong (Beijing) Supply Chain Management Co., Ltd., will provide corporate guarantees to Industrial Finance Leases to ensure that the subsidiary fulfils its obligations under the terms of the license. The Board of Directors stated that the trust will provide the Group with additional funding channels to help strengthen cash flow and considers the terms of the trust and corporate guarantee to be fair and in the overall interests of the company and shareholders.