Hard Egg Innovation (00400) announced that according to the company's announcement dated April 16, 2021, the company's indirect...
Zhitong Finance App News, Hard Egg Innovation (00400) announced that according to the company's announcement dated April 16, 2021, the company's indirect wholly-owned subsidiary Qianhai Hardegg Communication Technology (Shenzhen) Co., Ltd. (previously known as Qianhai Ketong Xincheng Communication Technology (Shenzhen) Co., Ltd. (lender) entered into a loan agreement with Li Honghui (borrower). Based on this, the lender agreed to provide loan financing to the borrower up to RMB 90 million, with an annual interest rate of 6%. On the same day, the lender also entered into a loan agreement totaling RMB 27.6 million with similar terms with other employees.
As of the date of this announcement, the principal amount of RMB 90 million and accrued interest under loan financing remained unrepaid. According to the loan agreement, the borrower shall fully repay the loan financing (along with all accrued interest) on or before the original repayment date (i.e. April 16, 2024).
On April 15, 2024, the company's indirect wholly-owned subsidiary lender entered into a supplementary loan agreement (which includes) to extend the original repayment date and revise the interest rate to 3.8%. Except for such amendments made pursuant to the supplementary loan agreement, all material terms and conditions of the loan agreement will remain in full force and effect.
On the same day, the lender also entered into a supplementary loan agreement with other employees on similar terms to renew the existing loan agreement.
According to the announcement, the borrower is a director of Ketong Technology. The Group expects that due to the widespread adoption and rapid development of AI, demand for chips from Chinese customers will increase significantly. Since the Group's chip sales are mainly carried out through Ketong Technology, a non-wholly-owned subsidiary of the company, the company believes that it is appropriate for key personnel to acquire shares in Ketong Technology. It is expected to motivate key employees and align employees' interests with the company's interests. The purpose is to retain and promote key employees and work together to achieve the long-term goals, expansion and development of Ketong Technology. Therefore, it is in the Group's interest to renew loan financing.