Financial Street: RMB 185 million financial aid for Rongfang Company

2022-08-02 0 By

Cnreal Estate news on February 7, Financial Street announced that the company and its holding subsidiary Rongfang Company signed a loan agreement on January 29, 2022. The company will provide a shareholder loan of no more than 185 million yuan and no more than 3 years to Rongfang company according to the proportion of its shareholding, and no interest will be charged for the shareholder loan.It is reported that Guangzhou Xinmao Real estate Development Co., Ltd. and Financial Street Guangzhou Real Estate Co., Ltd. each hold 50% equity of rongfang Company.As of the disclosure date of this announcement, the amount of financial aid mentioned above has been used up to 1.09577 billion yuan, and this time 185 million yuan has been used, totaling 1.288077 billion yuan, and the remaining 4.91923 billion yuan has not been used. This financial aid occurs within the amount approved by the above shareholders’ meeting and the board of Directors.As of the date of disclosure of this announcement, the accumulative amount of effective external financial assistance approved by the general meeting of shareholders and the board of directors is 12.78 billion yuan, and the total balance of financial assistance provided by the Company accounts for 12.12% of the company’s audited net assets in the latest period;The total balance of financial assistance provided by the Company and its holding subsidiaries to entities other than the consolidated statements accounts for 11.66% of the audited net assets of the listed company in the latest period.There is no overdue amount of financial assistance provided by the company.