Mecom Power (01183) announced that on July 5, 2024, the company, Hongye, and Xin Hongye signed a financing agreement with the banks (...).
According to the announcement of Mecom Power (01183), on July 5, 2024, the company, Hongye, and Xin Hongye entered into a financing agreement with the bank (Ta Feng Bank Macau Branch) in accordance with the terms of the financing agreement to provide financing to Hongye and Xin Hongye.
On July 4, 2024, a financing agreement was entered into between Hongye and Xin Hongye (both indirect wholly-owned subsidiaries of the company, as borrowers), the bank (as lender), and the company (as guarantor), involving (i) providing Hongye with a revolving loan financing of up to HKD 43 million and a bank overdraft financing of up to HKD 10 million, and (ii) issuing revolving guarantees of up to HKD 0.11 billion by the bank for Hongye and Xin Hongye, valid until July 11, 2025.