CHINA JINMAO (00817) announced that on December 27, 2024, Eagle Mao Real Estate (the company's indirect non-wholly owned...)
According to the Zhito Finance APP, CHINA JINMAO (00817) announced that on December 27, 2024, Eagle Mao Real Estate (indirect non-wholly owned subsidiary) signed a new framework agreement with Quan Hai and Ping Jia Investment, under which Eagle Mao Real Estate will continue to provide loans to Quan Hai and Ping Jia Investment (or their respective designated entities) during the term of the new framework agreement. The new framework agreement will take effect from December 30, 2024, and will replace the original framework agreement, remaining valid until December 31, 2025.
Eagle Mao Real Estate has ample sales returns, and the Directors believe that by providing loans to its Shareholders, Eagle Mao Real Estate can reduce the idleness of its Cash reserves, fully utilize financial advantages, allocate resources rationally, improve the utilization of funds, and meet the Group's development and financial needs for other projects. The loans provided to Quan Hai and Ping Jia Investment (or their respective designated entities) by Eagle Mao Real Estate will amount to proportions equivalent to the equity share of Eagle Mao Real Estate held by Quan Hai and Ping Jia Investment, and the terms and conditions of other loan transactions will also be the same, in line with the proportion of equity held by Quan Hai and Ping Jia Investment in Eagle Mao Real Estate.
