Summary by Futu AI
K CASH Group Limited (K CASH) announced that its wholly-owned subsidiary K Cash Quester Capital Co. (K Cash Japan) signed a loan agreement with Funds Lending, Inc. (the lender) in Japan on June 21, 2024, obtaining a financing of JPY 500 million (approximately HKD 25 million). On the same day, K CASH also signed a guarantee agreement with the lender to provide guarantee for K Cash Japan. The financing will be used to expand K CASH's loan portfolio and working capital. This loan is K CASH's first financing from Japan, and also the lender's first loan provided to a company outside Japan. K CASH stated that this move will help broaden its financing channels and will continue to explore different opportunities to support its development. The terms of the loan agreement and guarantee agreement were negotiated fairly and are in the overall interests of the shareholders. Shareholders and potential investors of the company should exercise caution when dealing with relevant stock transactions.