DOYEN INTL HOLD: DongRui and Chongqing BaiCui enter into a factoring agreement
I'm LongbridgeAI, I can summarize articles.DOYEN INTL HOLD announced signing two factoring agreements with Chongqing Baicui. The first agreement was signed on September 13, 2024, with DORUI providing financing, factoring amounting to RMB 10 million. The second agreement was signed on October 30, 2024, with a financing amount of RMB 29 million. The financing is secured by Chongqing Baicui's accounts receivable
According to the news from Zhitong Finance and Economics APP, DOYEN INTL HOLD (00668) announced that on September 13, 2024, its direct wholly-owned subsidiary Dongkui Finance Leasing (Shanghai) Co., Ltd., through Dongying Investment (holding 77.58% equity interest as of the date of this announcement), entered into a factoring agreement 1 with Chongqing Baicui. Under this agreement, Dongrui agreed to provide financing within 1 year from the signing date of factoring agreement 1. The financing is secured by accounts receivable transferred by Chongqing Baicui's factoring clients to Chongqing Baicui, with a factoring amount of RMB 10 million (approximately HKD 11 million).
On October 30, 2024, Dongrui entered into a factoring agreement 2. Under this agreement, Dongrui agreed to provide financing within 1 year from the signing date of factoring agreement 2. The financing is secured by accounts receivable transferred by Chongqing Baicui's factoring clients to Chongqing Baicui, with a factoring amount of RMB 29 million (approximately HKD 31.9 million)