FY Financial (08452) announced that on June 7, 2024, the company entered into a factoring agreement with Peking Tongda, agreeing to provide accounts receivable factoring services to Peking Tongda for a maximum factoring amount of RMB 10 million in exchange for factoring interest income. The legal ownership of accounts receivable generated by Peking Tongda's general and daily business with its customers (i.e. Peking Tongda's debtors) is transferred to the company.
FY Financial (08452) announced that on June 7, 2024, the company entered into a factoring agreement with Peking Tongda, agreeing to provide accounts receivable factoring services to Peking Tongda for a maximum factoring amount of RMB 10 million in exchange for factoring interest income. The legal ownership of accounts receivable generated by Peking Tongda's general and daily business with its customers (i.e. Peking Tongda's debtors) is transferred to the company.