GOME FIN TECH (00628) has entered into a new framework agreement with Ningbo Ruimao International Trade Co., Ltd. for factoring loans.

GOME FIN TECH (00628) announced that in order to meet the business needs of borrowers, GOME Credit can increase the maximum amount of factoring loans provided to borrowers. On September 20, 2024, GOME Credit entered into a new agreement with borrowers to replace the previous agreement. GOME Credit can provide factoring loans to borrowers from time to time within the term, but the total outstanding balance within the term cannot exceed RMB 190 million. The factoring business is the group's main business and main source of revenue. The new agreement was reached between the group and borrowers through fair negotiation in the daily business process, aiming to establish a framework to regulate the factoring loans provided by the group to borrowers, develop long-term business relationships with borrowers, and further develop the group's factoring business. By increasing the maximum amount of factoring loans that GOME Credit can provide to borrowers, the group's business needs can be met. The company believes that the income generated from providing factoring loans to borrowers can bring interest income to the group.