YUE DA INTL (00629) entered into a factoring agreement with Bin Hai Jing Fa.

YUE DA INTL (00629) announced that on November 20, 2024, its indirectly wholly-owned subsidiary, Yue Da Commercial Factoring, entered into a factoring agreement with Binhai Jingfa. Under the factoring agreement, Yue Da Commercial Factoring agreed to provide accounts receivable financing, accounts receivable management services, and accounts receivable collection services to Binhai Jingfa, with a revolving credit limit of RMB 50 million. The annual interest rate and factoring management fee combined will be 8% to 9%. The agreement will be effective from November 21, 2024, and expire on November 20, 2025.