LuKong (06623.HK)'s wholly-owned subsidiary PAObank announced a collaboration with MaiBao Cloud Data to utilize business data for credit assessments, providing more flexible and convenient financing options for Hong Kong SMEs. Through this partnership, PAObank has launched the "Cross-border E-Commerce Revolving Loan," with loan amounts up to 5 million USD, supporting SMEs in expanding into the e-commerce market.

With customer consent, PAObank retrieves their real-time data from the Amazon platform via MaiBao Cloud Data, such as sales volume, inventory levels, refund rates, etc., gaining a more comprehensive understanding of their business performance and utilizing Big Data analysis to streamline the credit assessment process. Based on this approval, SMEs do not need to provide financial statements and can obtain funding in as fast as one week. The loan repayment period can last up to 6 months, and customers can withdraw loans at any time within the approved revolving credit limit.