Summary by Moomoo AI
On June 28, 2024, Pak Tak Int'l announced that it has signed a supplemental factoring agreement with its client. This extends the factoring agreement expiration date from the original February 11, 2025 and reduces the factoring principal from CNY 23,000,000 to CNY 18,000,000. The supplemental agreement was reached through fair negotiations considering that the client has fully paid back CNY 5,000,000 of the principal and around CNY 1,840,000 in interest. The Board of Directors believes that this will bring additional interest income to the group and is fair and reasonable and in the overall interest of the company and its shareholders. According to Rule 14.36 of the Listing Rules, the company has made this announcement because this transaction constitutes a significant amendment to the previously announced factoring agreement.