Summary by Moomoo AI
Huarun Corporation signed on 26 November 2024 an agreement on financing a sustainable development-linked term loan in the amount of RMB 1 billion, with a loan term of three years. Under the agreement, the Huayun Group is to maintain the minimum shareholding ratio in Huarun and continue as the single largest shareholder. A breach of contract would constitute a breach of contract if Huayrun Group no longer holds at least 35% shareholding or loses control of the Board of Directors.In addition, a breach of contract would also constitute a breach of contract if the Huayrun Group ceases to hold at least 50% interest in the State Assets Supervision Committee of the State Council of China. In the event of a default, the loan...Show More