THE FACTORING AGREEMENT. The principal terms of the Factoring Agreement are summarized as follows: March 21, 2023
THE FACTORING AGREEMENT. 2 WITH CHONGQING MAOTONG Date of agreement: 15 September 2023 Parties: Dongrui Financing term: From the date of this agreement to 14 September 2024 Transfer of accounts receivable: Consideration: Xxxxxxx has agreed to pay Xxxxxxxxx Xxxxxxx a consideration of Interest rate: 11.00% per annum Type of factoring: The factoring is with recourse. Dongrui may demand Chongqing Repayment upon repurchase:
THE FACTORING AGREEMENT. 1 WITH SHANGHAI HONGXUAN Date of agreement: 15 September 2022 Parties: Dongrui Financing term: From the date of this agreement to 14 September 2023 Transfer of accounts receivable: Consideration: Dongrui has agreed to pay Shanghai Hongxuan a consideration of RMB9,500,000.00 (equivalent to approximately HK$10.5 million) for the transfer of all the Accounts Receivable 1 upon the execution of the Factoring Agreement 1. Interest rate: 12.00% per annum Type of factoring: The factoring is with recourse. Dongrui may demand Shanghai Hongxuan to repurchase all the outstanding Accounts Receivable 1 upon the end of the term, including but not limited to the principal amount of the outstanding Accounts Receivable 1, interest and other related expenses incurred by the outstanding accounts receivable. Repayment upon repurchase:
THE FACTORING AGREEMENT. 2 WITH XXXXXXXXX XXXXXX The principal terms of the Factoring Agreement 2 are set out as follows: Date of agreement: 30 October 2024 Xxxxxxxxx Xxxxxx Agreement 2, the creditor’s rights and relevant rights of the Accounts Receivable 2 shall be transferred to Dongrui, with the transfer amount of the Accounts Receivable 2 of RMB31,747,452.05 (equivalent to approximately HK$34.9 million). Xxxxxxxxx Xxxxxx to repurchase all the outstanding Accounts Receivable 2 upon the end of the term, including but not limited to the principal amount of the outstanding Accounts Receivable 2, interest and other related expenses incurred by the outstanding accounts receivable. Baicui shall repay principal with interest and other related expenses to be paid in a lump sum upon the end of the term.
THE FACTORING AGREEMENT. The Board hereby announces that on March 29, 2022, the Company entered into the Factoring Agreement II with the Factoring Bank, pursuant to which, (i) the Factoring Bank has agreed to provide the Company with recourse factoring services of approximately RMB37,929,321.9 from the execution date of the Factoring Agreement II, and the Company has agreed to transfer of the undue sums from the Lease Receivables V (i.e. RMB43,525,602) to the Factoring Bank for obtaining the Funds from the Factoring Bank; and (ii) the Funds shall be repayable by the Company to the Factoring Bank by January 24, 2025 pursuant to the terms and conditions of the Factoring Agreement II. Within the past twelve months, on September 29, 2021, the Company entered into the Factoring Agreement I with the Factoring Bank, pursuant to which the Company has agreed to transfer of the undue sums from the Lease Receivables I (i.e. RMB35,074,116), the Lease Receivables II (i.e. RMB35,661,551), the Lease Receivables III (i.e. RMB33,896,250) and the Lease Receivables IV (i.e. RMB30,619,559) to the Factoring Bank under the Finance Lease Agreement I, the Finance Lease Agreement II, the Finance Lease Agreement III and the Finance Lease Agreement IV, respectively, to the Factoring Bank, and the Factoring Bank has agreed to receive such creditor’s rights and relevant rights and to provide the Company with factoring facilities of approximately RMB114,023,902.2 and factoring facility services. On March 29, 2022, the Company entered into the Factoring Agreement II with the Factoring Bank. As the Factoring Agreement I was entered into with the Factoring Bank within a 12-month period prior to and inclusive of the date of the Factoring Agreement II, the transactions contemplated under the Factoring Agreement I and the Factoring Agreement II will be aggregated as a series of transactions for the Company pursuant to Rule 14.22 of the Listing Rules. As the highest applicable percentage ratio upon aggregation of the Factoring Agreements is higher than 5% but lower than 25%, the transactions contemplated under the Factoring Agreement II constitute discloseable transactions of the Company and are subject to the notification and announcement requirements under Chapter 14 of the Listing Rules.
THE FACTORING AGREEMENT. 1 WITH XXXXX XXXXXX Date of agreement: 29 July 2024 Parties: Dongrui Financing term: From the date of this agreement to 28 July 2025 Transfer of accounts receivable: Consideration: Xxxxxxx has agreed to pay Xxxxx Xxxxxx a consideration of RMB 3,400,000.00 (equivalent to approximately HK$3.7 million) for the transfer of all the Accounts Receivable 1 upon the execution of the Factoring Agreement 1. Interest rate: 11.00% per annum Type of factoring: The factoring is with recourse. Dongrui may demand Xxxxx Xxxxxx to repurchase all the outstanding Accounts Receivable 1 upon the end of the term, including but not limited to the principal amount of the outstanding Accounts Receivable 1, interest and other related expense incurred by the outstanding accounts receivable. Repayment upon repurchase:
THE FACTORING AGREEMENT. The Board hereby announces that on September 29, 2021, the Company entered into the Factoring Agreement with the Factoring Bank, pursuant to which, (i) the Factoring Bank has agreed to provide the Company with recourse factoring services of approximately RMB114,023,902.2 from the execution date of the Factoring Agreement, and the Company has agreed to transfer of the undue sums from the Lease Receivables I (i.e. RMB35,074,116), the Lease Receivables II (i.e. RMB35,661,551), the Lease Receivables III (i.e. RMB33,896,250) and the Lease Receivables IV (i.e. RMB30,619,559) to the Factoring Bank for obtaining the factoring facility of approximately RMB114,023,902.2 (the “Funds”) from the Factoring Bank; and (ii) the Funds shall be repayable by the Company to the Factoring Bank by July 28, 2024 pursuant to the terms and conditions of the Factoring Agreement. The Company intends to use the funds as general working capital. The principal terms of the Factoring Agreement are summarized as follows: September 29, 2021
THE FACTORING AGREEMENT. 1 WITH SHANGHAI HONGXUAN
THE FACTORING AGREEMENT a factoring agreement in relation to the assignment of Earnings contained in the Assignment over mv "SEAWAY FALCON" to be made between Xxxxx Comex Seaway A/S and the Agent.
THE FACTORING AGREEMENT. The Board hereby announces that on April 29, 2019, the Company entered into the Factoring Agreement with the Factoring Bank, pursuant to which the Company has agreed to transfer the creditor’s rights and relevant rights of the undue Lease Receivables under the Finance Lease Agreements, the outstanding lease principal of which is RMB89,137,505, to the Factoring Bank, and the Factoring Bank has agreed to receive such creditor’s rights and relevant rights of the Lease Receivables and to provide the Company with factoring facilities of approximately RMB79.46 million and factoring facility services. The principal terms of the Factoring Agreement are summarized as follows: April 29, 2020
