SUPPLEMENTAL FACTORING AGREEMENT. SUPPLEMENTAL FACTORING AGREEMENT The Board hereby announces that on 23 October 2017, SY Factoring, an indirect wholly owned subsidiary of the Company, entered into the Supplemental Factoring Agreement with Ningxia ZhongXin pursuant to which the revolving factoring loan credit limit granted by SY Factoring to Ningxia ZhongXin was revised from RMB120,000,000 (equivalent to approximately HK$135,600,000) to RMB128,000,000 (equivalent to approximately HK$144,640,000).
SUPPLEMENTAL FACTORING AGREEMENT. The Board hereby announces that on 23 October 2017, SY Factoring entered into the Supplemental Factoring Agreement with Ningxia ZhongXin pursuant to which the revolving factoring loan credit limit granted by SY Factoring to Ningxia ZhongXin was revised from RMB120,000,000 (equivalent to approximately HK$135,600,000) to RMB128,000,000 (equivalent to approximately HK$144,640,000). Save as disclosed above, all the terms of the Factoring Agreement (as supplemented by the Supplemental Factoring Agreement) shall remain unchanged and in full force and effect and binding on the parties. The principal terms of the revolving factoring loan under the Factoring Agreement (as supplemented by the Supplemental Factoring Agreement) are set out as below: Date : 23 October 2017 Parties : (1) Ningxia ZhongXin, a company established in the PRC with limited liability and is principally engaged in, among other things, sales of Chinese medicine, medicine, and medical equipment. To the best knowledge, information and belief of the Directors, having made all reasonable enquiries, Ningxia ZhongXin and its ultimate beneficial owners are Independent Third Parties.
SUPPLEMENTAL FACTORING AGREEMENT. (CUSTOMER H) The Board hereby announces that on 29 June 2018, SY Factoring entered into the Second Supplemental Factoring Agreement (Customer H) with Customer H pursuant to which the Factoring Agreement (Customer H) (as supplemented by the First Supplemental Factoring Agreement (Customer H)) is revised to include an additional debtor group approved by SY Factoring so that Customer H can utilize the accounts receivable owing from the said debtor group as security for the factoring loan.
SUPPLEMENTAL FACTORING AGREEMENT. SUPPLEMENTAL FACTORING AGREEMENT The Board hereby announces that on 26 October 2017, SY Factoring, an indirect wholly owned subsidiary of the Company, entered into i) the Supplemental Factoring Agreement (HengAnZe) with HengAnZe; and ii) the Supplemental Factoring Agreement (Shiyan) with Shiyan, pursuant to which a revolving factoring loan credit limit granted by SY Factoring to HengAnZe and Shiyan jointly was revised from RMB60,000,000 (equivalent to approximately HK$67,800,000) to two standalone revolving factoring loan credit limits granted by SY Factoring respectively to HengAnZe in an amount of RMB70,000,000 (equivalent to approximately HK$79,100,000) and granted to Shiyan in an amount of RMB35,000,000 (equivalent to approximately HK$39,550,000) respectively.
SUPPLEMENTAL FACTORING AGREEMENT. The Board hereby announces that on 26 October 2017, SY Factoring entered into i) the Supplemental Factoring Agreement (HengAnZe) with HengAnZe; and ii) the Supplemental Factoring Agreement (Shiyan) with Shiyan, pursuant to which the revolving factoring loan credit limit granted by SY Factoring to HengAnZe and Shiyan jointly was revised from RMB60,000,000 (equivalent to approximately HK$67,800,000) to two standalone revolving factoring loan credit limits granted by SY Factoring respectively to HengAnZe in an amount of RMB70,000,000 (equivalent to approximately HK$79,100,000) and Shiyan in an amount of RMB35,000,000 (equivalent to approximately HK$39,550,000). Save as disclosed above, all the terms of the Factoring Agreements (as supplemented by the Supplemental Factoring Agreements) shall remain unchanged and in full force and effect and binding on the parties. The principal terms of the revolving factoring loans under the Factoring Agreements (as supplemented by the Supplemental Factoring Agreements) are set out as below: Date : 26 October 2017 Parties : For the Supplemental Factoring Agreement (HengAnZe):
SUPPLEMENTAL FACTORING AGREEMENT. SUPPLEMENTAL FACTORING AGREEMENT The Board hereby announces that on 30 September 2017, SY Factoring, an indirect wholly owned subsidiary of the Company, entered into the Supplemental Factoring Agreement with Gansu Zhongyao pursuant to which the revolving factoring loan credit limit granted by SY Factoring to Gansu Zhongyao was revised from RMB70,000,000 (equivalent to approximately HK$79,100,000) to RMB140,000,000 (equivalent to approximately HK$158,200,000). GEM LISTING RULES IMPLICATIONS As the highest applicable percentage ratio for the Company as calculated under Rule 19.07 of the GEM Listing Rules in relation to the revised credit limit under the Supplemental Factoring Agreement exceeds 5% but is less than 25%, the entering into of the Supplemental Factoring Agreement constitutes a discloseable transaction for the Company under the GEM Listing Rules and is subject to the reporting and announcement requirements.
SUPPLEMENTAL FACTORING AGREEMENT. (CUSTOMER N) The Board hereby announces that on 21 May 2018, SY Factoring entered into the Supplemental Factoring Agreement (Customer N) with Customer N pursuant to which i) the revolving factoring loan credit limit granted by SY Factoring to Customer N was revised from RMB43,000,000 to RMB100,000,000; ii) the factoring loan prepayment ratio was revised from not more than 80% of the accounts receivable assigned to not more than 100% of the accounts receivable assigned or not more than 80% of the purchase order assigned (as the case may be); iii) the annual interest rate was revised from 14% (including tax) to not more than 15% (including tax, the exactinterest rate to be determined upon each drawdown); iv) the service fee was revised from nil to not more than 2% of the accounts receivable assigned (including tax, the exact service fee to be determined upon each drawdown);
SUPPLEMENTAL FACTORING AGREEMENT. (CUSTOMER A)
SUPPLEMENTAL FACTORING AGREEMENT. (CUSTOMER F) The Board hereby announces that on 16 April 2018, SY Factoring entered into the Second Supplemental Factoring Agreement (Customer F) with Customer F, pursuant to which i) the revolving factoring loan credit limit granted by SY Factoring to Customer F was revised from RMB390,000,000 to RMB700,000,000;
SUPPLEMENTAL FACTORING AGREEMENT. (TIANSHENG) The Board hereby announces that on 19 January 2018, SY Factoring entered into the Supplemental Factoring Agreement (Tiansheng) with Xxxxxxxx Xxxxxxxxx, pursuant to which i) a revolving factoring loan credit limit granted by SY Factoring to Xxxxxxxx Xxxxxxxxx was revised from RMB80,000,000 (equivalent to approximately HK$95,200,000) to RMB390,000,000 (equivalent to approximately HK$464,100,000); ii) the interest rate per annum was revised from 10-13.5% to 10-18%; iii) the service fee was revised from not more than 0.35% (to be paid within the first 5 business days of the next month) to not more than 1% per drawdown; and iv) the expiry date of the credit period was revised from 18 June 2018 to 16 May 2018. MATERIAL CHANGE TO THE TERMS OF THE PREVIOUSLY ANNOUNCED DISCLOSEABLE TRANSACTIONS
