China Jinmao Subsidiary Provides Loans in Discloseable Transaction
Reuters
Nov 28
<a href="https://laohu8.com/S/CJNHF">China Jinmao</a> Subsidiary Provides Loans in Discloseable Transaction
China Jinmao Holdings Group Limited announced that its indirect non-wholly-owned subsidiary, Shanghai Qinmaojia, has entered into a framework agreement to provide loans to Qinruijia Shanghai. The transaction, which involves maximum daily balances (including accrued interests) with applicable percentage ratios of more than 5% but less than 25%, is classified as a discloseable transaction under the Hong Kong Listing Rules. Shanghai Qinmaojia is held 90% by Xi'an Baomao, a wholly-owned subsidiary of China Jinmao, and 10% by Qinruijia Shanghai, whose ultimate beneficial owner is UOL Group Limited. The transaction is subject to reporting and announcement requirements but does not constitute a connected transaction. China Jinmao is a major developer and operator of real estate projects in China.
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