YUE DA INTL's subsidiary signs reverse factoring agreement with Hengfa
YUE DA INTL announced that its wholly-owned subsidiary YUE DA Commercial Factoring has signed a reverse factoring agreement with Hengfa. According to the agreement, YUE DA Commercial Factoring will provide accounts receivable financing and management services to Hengfa, granting a reverse revolving credit limit of 23 million yuan, with an annual interest rate and management fee totaling 8.5%. The agreement will take effect from August 29, 2025, and will expire on September 10, 2027
According to the announcement from YUE DA INTL (00629), on August 29, 2025, the company's indirect wholly-owned subsidiary, YUE DA Commercial Factoring, entered into a reverse factoring agreement with Hengfa. Under the reverse factoring agreement, YUE DA Commercial Factoring agrees to provide accounts receivable financing, accounts receivable management services, and accounts receivable collection services to Hengfa, and grants a reverse revolving credit limit of RMB 23 million, with a combined annual interest rate and factoring management fee of 8.5%, effective from August 29, 2025, and expiring on September 10, 2027
