QIDIAN GUOFENG plans to sell all the equity of Yangzhou Laihao Electrical Appliance Trading to Guangdong Shengrong for RMB 29.3 million to settle the outstanding principal of the loan
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QIDIAN GUOFENG plans to sell all the equity of Yangzhou Laihao Electric Appliance Trading to Guangdong Shengrong to settle the outstanding principal of the loan. The transaction cost is RMB 29.3 million, which will be used to offset the outstanding principal and accrued interest under the loan agreement. After the completion of the transaction, QIDIAN GUOFENG will reduce its financial burden and lower its debt-to-asset ratio. According to the equity transfer agreement, the outstanding amount of approximately RMB 12.6132 million must be repaid by June 13, 2025
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