Summary by Moomoo AI
On November 26, 2024, china res land, as the borrower, signed a financing letter with a banks, providing a RMB 2.5 billion term loan financing with a loan term of three years. According to the financing letter, the China Resources Group needs to maintain a shareholding ratio of not less than 35% in China Resources Land, otherwise it will constitute a default event. Currently, China Resources Group holds approximately 59.55% of China Resources Land's equity. If China Resources Group no longer holds more than 50% equity owned by the State-owned Assets Supervision and Administration Commission of the State Council of China, it will also constitute a default event. In case of default events occurring and continuing, the lender can cancel the financing commitment and...Show More