Bot International Holdings (00668) announced that on December 19, 2022, Dongrui, a direct wholly-owned subsidiary of the joint venture (a Sino-foreign joint venture established under Chinese law, on the date of this announcement, the company has a 77.58% interest through Dongying Investment) entered into a factoring agreement with Chongqing Baicui, and Dongrui agreed to provide financing within a period of one year from the date of signing the factoring agreement. The relevant financing is secured by the accounts receivable transferred from Chongqing Baicui's factoring clients to Chongqing Baicui, and the factoring principal amount is RMB 2.5 million.
The Board further announced that on 15 September 2023, East Rui entered into the factoring Agreement II and East Rui agreed to provide financing within a period of one year from the date of the second factoring Agreement, the relevant financing is secured by the accounts receivable transferred from Chongqing Baicui's factoring clients to Chongqing Baicui, and the factoring principal amount is RMB 8.5 million.