Doyen Intl Hold (00668.HK) announced that its joint venture subsidiary, Dongkui Financial Leasing (shanghai), a non-direct wholly-owned subsidiary of Dongrui, signed three factoring agreements with wuhan from September to October this year.

According to the announcement, Dongrui agrees to provide financing within a one-year period from the signing date of Factoring Agreement 1, with a factoring principal amount of 4 million RMB; agrees to provide financing within a one-year period from the signing date of Factoring Agreement 2, with a factoring principal amount of 18.9 million RMB; agrees to provide financing within a one-year period from the signing date of Factoring Agreement 3, with a factoring principal amount of 28 million RMB. The annual interest rate for the three factoring agreements is 9.5%.

Doyen Intl Hold stated that the above three factoring agreements are collateralized by accounts receivable transferred by wuhan heyday's factoring customers to wuhan heyday.