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

GOME FIN TECH (00628) announced that, in order to meet the business needs of borrowers, they have increased the maximum amount of factoring loans that can be provided to borrowers. On September 20, 2024, GOME FIN TECH entered into a new agreement with borrowers to replace the previous agreement. Under this new agreement, GOME FIN TECH may provide factoring loans to borrowers from time to time within the agreed period, with the total outstanding balance not exceeding RMB 1.9 billion. Factoring business is the main business and main source of income for the group. The new agreement was reached through fair negotiations between the group and borrowers in their daily business processes. It aims to establish a framework to regulate the factoring loans provided by the group to borrowers, develop long-term business relationships with borrowers, further develop the group's factoring business, and increase the maximum amount of factoring loans that GOME FIN TECH can provide to borrowers to meet the business needs of the group. The company believes that the income generated from providing factoring loans to borrowers can bring interest income to the group.