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Sheen Tai Holdings Faces Loan Default Situation
SHEEN TAI (01335.HK): Borrower defaults on loan repayment.
On December 16, Gelonghui reported that SHEEN TAI (01335.HK) announced that on June 12, 2023, a loan agreement was established between the lender and the borrower, under which the borrower is to repay the principal and pay interest to the lender by March 18, 2024. On March 21, 2024, the lender, borrower, and personal guarantor entered into a supplementary agreement, under which the parties conditionally agreed to extend the repayment date to November 30, 2024, and increase the loan interest rate from 0.42% per month to 1% per month, with additional guarantees provided by the personal guarantor. Due to the borrower's failure to fully repay before the repayment date.
Sheen Tai Holdings Expands Into Bitcoin Mining Sector
Sheen Tai Holdings Group Terminates Disposal Agreement, To Sell to New Buyer
Sheen Tai intends to sell 100% equity of Jiangsu Jingge Run Technology for 21.98 million yuan.
Sheen Tai (01335) announced that after careful consideration and discussion, given that the 50 million yuan has not been settled according to the previous agreement, the seller issued a written termination notice to Huai'an Bank on November 15, 2024. Therefore, according to the terms and conditions of the previous agreement, the prior sale has been considered terminated. After the termination of the prior sale, on December 6, 2024 (after trading hours), the seller (the company's wholly-owned subsidiary Leading Feiyu Technology (Shenzhen) Co., Ltd.) signed a new sale agreement related to the new sale with the buyer Jiangsu Mengfei Silk Weaving Co., Ltd., intending to sell to the buyer.
Express News | Sheen Tai Holdings Group Company - Jiangsu Mofisi Weaving Company to Buy Jiangsu Sheen Colour Science Technology for RMB22 Mln
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