---
title: "DOYEN INTL HOLD: Dongrui and Wuhan Hezhong signed a factoring agreement"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/218925302.md"
description: "DOYEN INTL HOLD announced that its wholly-owned subsidiary Dongrui signed two factoring agreements with Wuhan Hezhong. The first agreement was signed on July 29, 2024, with a financing amount of RMB 3.4 million and a term of 1 year. The second agreement was signed on November 6, 2024, with a financing amount of RMB 22 million and also a term of 1 year. The financing is secured by the accounts receivable transferred to Wuhan Hezhong by its factoring clients"
datetime: "2024-11-06T08:38:03.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/218925302.md)
  - [en](https://longbridge.com/en/news/218925302.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/218925302.md)
---

# DOYEN INTL HOLD: Dongrui and Wuhan Hezhong signed a factoring agreement

According to the announcement from DOYEN INTL HOLD (00668), on July 29, 2024, its wholly-owned subsidiary Dongrui (a Sino-foreign joint venture established under Chinese law, in which the company holds a 77.58% stake through Dongying Investment as of the date of this announcement) entered into Factoring Agreement 1 with Wuhan Huzong. Under this agreement, Dongrui agrees to provide financing for a period of one year from the date of signing Factoring Agreement 1, with the financing secured by accounts receivable transferred from Wuhan Huzong's factoring clients to Wuhan Huzong. The principal amount of the factoring is RMB 3.4 million.

On November 6, 2024, Dongrui entered into Factoring Agreement 2, under which Dongrui agrees to provide financing for a period of one year from the date of signing Factoring Agreement 2, with the financing secured by accounts receivable transferred from Wuhan Huzong's factoring clients to Wuhan Huzong. The principal amount of the factoring is RMB 22 million

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