According to the Zhitong Finance App, Qihe Environmental Protection (00976) announced that for the year ended December 31, 2018, the initial withdrawal amount of the loan was US$220 million, and the repayment period was two years. After the initial term expires, the loan's repayment period has been extended for 2020, 2021, 2022 and the year ending December 31, 2023. The final repayment date is March 30, 2024. Over the past few years, the Group has repaid most of its loans. As of the final repayment date of March 30, 2024, the outstanding principal amount of the loan was 50 million US dollars (outstanding loan balance), and this amount has not been repaid (default) as of the date of this announcement. This default constitutes a breach of contract under the financing agreement. Therefore, the finance agent of the financing agreement has the right to declare that the outstanding loan balance is due immediately and subject to immediate repayment.
On April 2, 2024, the company received a reminder from the financing agent requesting immediate repayment of the outstanding loan balance and applicable default interest under the financing agreement.
Group management is in discussions with financing agents to further extend the loan's final repayment date.