HUASHENG INTL announced the subscription of 40 million HKD convertible Bonds from the target company, with an annual interest rate of 8%, payable semi-annually. The proceeds from the convertible Bonds can only be used to procure new inventory, while the income from the sale of inventory can only be used to fulfill the payment obligations of the Bonds or to procure new inventory. The target company currently has inventory, cash, receivables, and bank Accounts of approximately 59 million HKD, and the Bond subscription amount does not exceed 50% of the total value of floating collateral.The company has conducted a Crediting risk assessment on the target company and its guarantor, Mr. Ye. Mr. Ye holds two Residence properties in Hong Kong, with a...Show More

HUASHENG INTL announced the subscription of 40 million HKD convertible Bonds from the target company, with an annual interest rate of 8%, payable semi-annually. The proceeds from the convertible Bonds can only be used to procure new inventory, while the income from the sale of inventory can only be used to fulfill the payment obligations of the Bonds or to procure new inventory. The target company currently has inventory, cash, receivables, and bank Accounts of approximately 59 million HKD, and the Bond subscription amount does not exceed 50% of the total value of floating collateral.The company has conducted a Crediting risk assessment on the target company and its guarantor, Mr. Ye. Mr. Ye holds two Residence properties in Hong Kong, with a total value exceeding 85 million HKD, with a net value of over 40 million HKD after mortgage deduction. The target company mainly engages in the Business of wine, whiskey, tea, and luxury collectibles, showing good development potential. The company currently has no intention to exercise the conversion right but will continue to monitor the target company's business performance and growth after the recent reduction of high alcohol tax rates.