DOYEN INTL HOLD: DongRui and Chongqing PuMei enter into factoring agreement
I'm LongbridgeAI, I can summarize articles.DOYEN INTL HOLD announced that its wholly-owned subsidiary Dongrui has signed a factoring agreement with Chongqing Pumei, with a financing amount of 26 million RMB and a term of one year. The agreement involves the accounts receivable transferred by Chongqing Pumei's factoring clients as collateral
According to the news from Zhitong Finance and Economics APP, DOYEN INTL HOLD (00668) announced that on October 29, 2024, its direct wholly-owned subsidiary Dongrui, holding 77.58% through Dongying Investment, entered into a factoring agreement with Chongqing Pumei, a joint venture company (a Sino-foreign joint venture established in accordance with Chinese laws, with the company holding 77.58% as of the date of this announcement). Dongrui agreed to provide financing within a one-year period from the date of signing the factoring agreement, with a factoring amount of RMB 26 million, using accounts receivable transferred by Chongqing Pumei's factoring clients to Chongqing Pumei as collateral