On June 27th, Gelunhui reported that Jiangsu Fasten (000890.SZ) received a notice from its related party, Jiangsu Fasten Hongsheng Heavy Industry Co., Ltd. (referred to as "Hongsheng Heavy Industry" and "lender"), stating that it will forgive the debt interest on the company's bonds generated under its umbrella. As of the date of this announcement, the balance of the principal not yet repaid by the company to Hongsheng Heavy Industry is RMB 88,236,767.06, and the interest from January 1, 2024 to the maturity date of the loan is approximately RMB 18,647,523.56, of which the interest unpaid to Hongsheng Heavy Industry from January 1, 2024 to June 30, 2024 is RMB 9,869,190.75.
Recently, the company signed a Supplementary Agreement to the Loan Agreement with Hongsheng Heavy Industry, agreeing to waive the loan interest under the Loan Agreement from January 1, 2024, until the date on which the remaining loan principal is actually repaid by the borrower. The lender will no longer charge interest during the loan period or outside the loan period.
This debt relief has eased the company's debt pressure and reflected the strong support of the creditors for the company's long-term development. It is conducive to optimizing the company's asset-liability structure and enhancing the company's sustainable operational ability. This debt relief is a unilateral, unconditional, and irrevocable exemption. After the Supplementary Agreement to the Loan Agreement takes effect, Hongsheng Heavy Industry cannot request the company to repay the waived debt or perform any other obligations, which is in line with the interests of the company and all shareholders.