YUE DA INTL(00629) subsidiary enters into reverse factoring agreement with Jiangsu Maode.

YUE DA INTL (00629) announced that on November 15, 2024, the company's indirect wholly-owned subsidiary, Yue Da Commercial Factoring, entered into a reverse factoring agreement with Jiangsu Maode. According to the reverse factoring agreement, Yue Da Commercial Factoring agreed to provide accounts receivable financing, accounts receivable management services, and accounts receivable collection services to Jiangsu Maode, and granted a reverse revolving credit limit of RMB 45 million. The annual interest rate and factoring management fee combined will be 8% to 9%, effective from November 18, 2024, and expiring on November 21, 2025.