Examples of Entrusted Loans in a sentence
Granting of the Entrusted Loan(s) under the Entrusted Loan Agreement constitutes provision of financial assistance by the Company to a connected person, and therefore constitutes a continuing connected transaction under Chapter 14A of the Listing Rules.
The annual caps for the Entrusted Loans are set at RMB100,000,000 for each of the following period: (a) from 23 June 2021 to 31 December 2021; (b) from 1 January 2022 to 31 December 2022; (c) from 1 January 2023 to 31 December 2023; and (d) 1 January 2024 to 22 June 2024.
The Group intends to utilize the surplus cash of Shanghai Ongoing by providing the Entrusted Loans to Shanghai Joinbuy City Plaza with an aim to enhancing the return of the Group’s surplus cash and at the same time satisfying the working capital needs of Shanghai Joinbuy City Plaza.
The annual caps for the Entrusted Loans are determined based on the maximum aggregate principal amount of the Entrusted Loans which was determined based on the expected cashflow and the financial and operational needs of Shanghai Joinbuy during the availability period.
The Group intends to utilize the surplus cash of Shanghai Ongoing by providing the Entrusted Loans to Shanghai Joinbuy with an aim to enhancing the return of the Group’s surplus cash and at the same time satisfying the working capital needs of Shanghai Joinbuy.