Gelonghui August 9th 丨PF GROUP (08221.HK) announced the granting of financing in accordance with the financing agreement. According to the terms of the financing agreement, the debtor must pay the financing interest on a monthly basis and must repay the principal amount of the financing together with all accrued interest and all other amounts payable under the financing agreement on the date of repayment (that is, on the first anniversary of the date the financing was made, or on the earlier date determined by lender A based on its semi-annual review of the financing) or before.

The debtor has not been able to repay interest and other payables on a monthly basis since March 2023, and has not been able to repay until the date of the announcement.

The financing agent has sought legal advice and issued reminders to the borrower and such guarantors to withdraw the financing. On August 8, 2023, the financing agent appointed a successor for the shares of listed companies included in the share deposit to protect the rights and interests of such lenders and recover outstanding loans.

Actions to recover outstanding loans are under way. The company will issue a separate announcement in due course in accordance with GEM listing rules and inform shareholders and potential investors of any significant developments in this incident.

Furthermore, trading of the company's shares continues to be suspended.