Peking University Resources (00618) issued an announcement. On December 11, 2023, Chongqing Kunbiao, an indirect wholly owned subsidiary of the company, entered into a trust agreement with the trustee as the subscriber, and the subscriber agreed to subscribe to the Class B trust unit of the trust plan at a cost of RMB 150 million.
The main purpose of the trust plan is (among others) to provide financing to Beijing Ruihe, an indirect wholly-owned subsidiary of the company, to supplement its working capital or repay its existing debts. Participating in trust schemes provides the group with an alternative financing method, which will diversify the group's financing methods and channels and reduce its reliance on traditional debt financing channels. Subscriptions carried out by subscribers are critical to enhancing the investment appeal of trust plans, and thus to attracting capital from outside investors.