According to the Zhitong Finance App, Yuxing Technology (08005) issued an announcement on matters relating to the extension of the remaining loan amount of HK$41 million. Under the fourth supplementary loan agreement, the remaining loan and outstanding accrued interest payable under the fourth supplementary loan agreement must be repaid by the borrower to the lender on or before the due date of June 30, 2023. As of the date of this publication, the borrower has not repaid the remaining loan or accrued interest.

The lender has sought legal advice and negotiated with the borrower. On July 3, 2023, the lender issued a collection letter (collection letter) to the borrower requesting repayment of the remaining loan and its accrued interest.

According to the collection letter (including), the lender requires the borrower to fully repay the remaining loan plus its accrued interest up to June 30, 2023, totaling approximately HK$43.453 million within 7 business days from the date of the collection letter. Otherwise, appropriate legal action will be taken against the borrower to recover the amount without further notice to the borrower.

After the due date of June 30, 2023 and as of the date of this publication, the lender has negotiated with the borrower to repay the remaining loan and accrued interest on it. As of the date of this announcement, the lender and borrower have not agreed or reached a final settlement plan.