ST Sunwin: The company's bank loan is overdue, involving a principal of 20 million yuan
ST Sunwin announced that the principal of the merger loan contract signed with Dongguan Bank is 198 million yuan, with a loan term from March 5, 2020, to March 4, 2027. To date, 106 million yuan of principal and interest has been repaid, but due to slow accounts receivable recovery and tight liquidity, 20 million yuan of principal and 2.3777 million yuan of interest are overdue
According to the announcement from Zhitong Finance APP, ST Sunwin (300044.SZ) announced that on February 27, 2020, the company signed a "Merger Loan Contract" with the Shenzhen Branch of Dongguan Bank Co., Ltd. (hereinafter referred to as "Dongguan Bank"), whereby Dongguan Bank provided a loan of RMB 198 million for the acquisition price of the "Shengxunda Technology Building" in Longgang District, Shenzhen, or to replace the funds already paid for the acquisition of this project. The loan term is from March 5, 2020, to March 4, 2027, with both parties agreeing to pay interest monthly and repay the principal every six months. As of the date of this announcement, the company has repaid RMB 106 million in principal and interest.
Recently, the company received a "Overdue Collection Notice" issued by Dongguan Bank, informing the company that the above loan has an overdue principal of RMB 20 million and interest of RMB 2.3777 million. Due to the slow recovery of accounts receivable and recent tight liquidity, the company currently has no ability to repay, resulting in the overdue portion of the loan
