Dongyue Group (00189) fell by more than 4%, down 4.12% at press time, to HK$6.75, with a turnover of HK$10.17 million.
The Zhitong Finance App learned that Dongyue Group (00189) fell by more than 4%, down 4.12% at press time, to HK$6.75, with a turnover of HK$10.17 million.
According to the news, the company issued an announcement relating to matters relating to the revised continuing connected transaction between Dongyue Polymer (an indirect subsidiary of the company) and Xinhualian Finance in accordance with the “Revised Agreement on the Financial Services Master Agreement”.
In order to supplement the Group's working capital, Dongyue Polymer issued a notice to Xinhualian Finance on March 28, 2024, stating that it would withdraw the deposit balance of approximately RMB 318.9 million (together with accrued interest) (no balance) stored by Dongyue Polymer in Xinhualian Finance until March 27, 2024. According to the notice, Xinhualian Finance must transfer the unwithdrawn balance to Dongyue Polymer's designated account on or before March 31, 2024. Otherwise, Dongyue Polymer will take action to enforce its legal rights. After this withdrawal, Dongyue Polymer has no intention of depositing any more deposits with Xinhualian Finance in accordance with the “Revised Agreement on Financial Services Master Agreement”.