Yue Da International (00629) subsidiary enters into a reverse factoring agreement with Yancheng Huachen.

YUE DA INTL (00629) announces that on September 24, 2024, its indirect wholly-owned subsidiary, Yueda Commercial Factoring, entered into a reverse factoring agreement with Yancheng Huachen. Under the reverse factoring agreement, Yueda Commercial Factoring agrees to provide Yancheng Huachen with accounts receivable financing, accounts receivable management services, and accounts receivable collection services, granting a reverse revolving credit limit of RMB 50 million. The annual interest rate and factoring management fee total 8% to 9%. The agreement will be effective from September 25, 2024, and will expire on September 24, 2025.