---
title: "CGE: Wholly-owned subsidiary plans to engage in accounts receivable factoring business not exceeding 113 million yuan"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/288069150.md"
description: "ST CGE's wholly-owned subsidiary Beijing Changdao plans to conduct accounts receivable factoring business with recourse of no more than 113 million yuan with LUZHOU BANK Chengdu Branch, with a validity period of 12 months. This proposal has been approved by the board of directors and is subject to review by the shareholders' meeting, aiming to broaden financing channels and accelerate capital turnover"
datetime: "2026-05-29T12:33:31.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/288069150.md)
  - [en](https://longbridge.com/en/news/288069150.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/288069150.md)
---

# CGE: Wholly-owned subsidiary plans to engage in accounts receivable factoring business not exceeding 113 million yuan

\*CGE announced that the company will hold a board meeting on May 29, 2026, to review and approve the proposal for its wholly-owned subsidiary, Beijing Changdao, to conduct a recourse factoring business for accounts receivable not exceeding 113 million yuan with the Chengdu branch of LUZHOU BANK. The validity period of the quota is 12 months from the date of approval by the shareholders' meeting, and this proposal needs to be submitted to the company's second extraordinary shareholders' meeting in 2026 for review. Conducting this business is beneficial for broadening financing channels and accelerating capital turnover. The board of directors requests the shareholders' meeting to authorize the company's management to exercise specific operational decision-making authority and sign relevant contracts within the quota

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