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耀星科技集团(08446)附属与深圳创立德供应链订立本金为1亿元的融资基金协议

Brightstar Tech (08446) subsidiary entered into a financing fund agreement with Shenzhen Chuanglide Supply Chain for a principal amount of 0.1 billion yuan.

Zhitong Finance ·  Sep 24 17:27

Brightstar Tech (08446) announced that on March 15, 2023, its subsidiary Xinhang in Shenzhen...

According to the Zhitong Finance APP, Brightstar Tech (08446) announced that on March 15, 2023, its subsidiary Xinhang in Shenzhen entered into a financing fund agreement of RMB 0.1 billion with the borrower Shenzhen Chuanglide Supply Chain Co., Ltd.

Xinhang in Shenzhen was informed by the borrower that the borrower could refer the IT services & consulting project to Xinhang in Shenzhen, with a total contract amount of approximately RMB 0.5 billion.

The borrower successfully referred two clients to Xinhang in Shenzhen, upgrading the information technology systems for Chinese government institutions in Nanjing and Guangdong in April and May 2023, respectively. However, these two referrals did not generate any revenue as they only reached the stage of signing a Memorandum of Understanding (MOU) and were unable to proceed due to disagreements over service fees between Xinhang in Shenzhen and the two clients. Therefore, Xinhang in Shenzhen demanded full repayment of the loan. The full amount of the loan was repaid on March 27, 2024.

The announcement stated that the terms of the loan agreement were negotiated between the group and the borrower based on the principle of fairness, taking into account the borrower's funding needs, the business relationship between the group and the borrower, the borrower's background, and the potential benefits that the group may bring.

The group advanced the loan to the borrower in order to provide the borrower with additional working capital to purchase information technology hardware for its information technology trades. According to the financing fund agreement, the borrower is obligated to do its best to refer to Xinhang in Shenzhen for IT consulting services in major transactions. If the terms are the same as those provided by Xinhang in Shenzhen and other third parties, the borrower should first engage Xinhang in Shenzhen to provide IT technical consulting services for its existing and future transactions. Under this business cooperation arrangement, the information technology hardware will be purchased and established by the borrower, while IT technical consulting services, system upgrades, and specific software development will be provided by Xinhang in Shenzhen.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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