Ruihe Decoration's syndicated loan is overdue, involving an amount of approximately 15.2 million yuan
Ruihe Decoration applied for a credit line from a syndicate led by Bank of China due to the slow turnover of accounts receivable caused by the debt crisis of its largest customer. Recently, due to tight liquidity, there has been a situation of overdue syndicate loans. As of the announcement date, the total overdue principal and interest amounted to approximately 15.2 million yuan
According to the Zhitong Finance APP, Ruihe Decoration (002620.SZ) announced that due to the debt crisis of its largest customer, the company's accounts receivable turnover has slowed down. The company has applied for a credit limit from a syndicate of banks led by Bank of China Limited, consisting of a total of eleven banks (hereinafter referred to as the "syndicate"), for the purpose of refinancing and daily production and operation turnover. Recently, due to tight liquidity, the company has experienced overdue repayments on the aforementioned syndicate loans, with overdue principal and interest totaling approximately 15.2 million yuan as of the date of this announcement
