YUEXIU PROPERTY signed a financing agreement with a Bank on December 17, 2024, obtaining a term loan financing of 1.2 billion HKD (or equivalent RMB) for a period of 18 months. The financing agreement includes specific terms requiring the company's controlling Shareholder, YUEXIU ENTERPRISES (GROUP) LIMITED, to Hold no less than 30% of its direct or indirect interest in the company's issued voting shares. The financing agreement also stipulates that if YUEXIU ENTERPRISES is no longer the single largest beneficial Shareholder of YUEXIU PROPERTY, or no longer exercises effective management control over the company, it will constitute an event of default. In the event of a default, the lender has the right to declare all debts immediately due and payable. As of the...Show More

YUEXIU PROPERTY signed a financing agreement with a Bank on December 17, 2024, obtaining a term loan financing of 1.2 billion HKD (or equivalent RMB) for a period of 18 months. The financing agreement includes specific terms requiring the company's controlling Shareholder, YUEXIU ENTERPRISES (GROUP) LIMITED, to Hold no less than 30% of its direct or indirect interest in the company's issued voting shares. The financing agreement also stipulates that if YUEXIU ENTERPRISES is no longer the single largest beneficial Shareholder of YUEXIU PROPERTY, or no longer exercises effective management control over the company, it will constitute an event of default. In the event of a default, the lender has the right to declare all debts immediately due and payable. As of the announcement date, YUEXIU ENTERPRISES beneficially owns approximately 44% of the issued shares of YUEXIU PROPERTY. This announcement is made pursuant to Rule 13.18 of the Listing Rules of the Hong Kong Stock Exchange, aiming to disclose the terms of the loan agreement that may lead to a change in control. This financing will provide significant financial support to YUEXIU PROPERTY while also reflecting the Bank's confidence in the company's current shareholding structure and management.