Xinyi Network Group (01686) issued an announcement. On April 17, 2024, Hongweifa, a wholly-owned subsidiary of the company...
According to Zhitong Finance App, Xinyiwang Group (01686) announced that on April 17, 2024, the wholly-owned subsidiary of the company, Hongwei Development Co., Ltd. (as the borrower) and China Construction Bank (Asia) Co., Ltd. (as the lender), entered into a financing agreement for a term loan with a total amount of HK$800 million; and a revolving loan financing with a total amount of HK$400 million. The final repayment date for financing is 60 months from the date the financing agreement is signed. The financing will be used to meet the general corporate capital needs of the company, lenders and their wholly-owned (direct or indirect) subsidiaries.