Kin Wu Financial News | gwpa Holdings (00583) announced that on April 26, earlier, as a guarantor, entered into two loan agreements with Wharf as the borrower and a banks, with a total loan limit of 1.7 billion yuan, but violated the announcement regulations under Section 13.18 of the listing rules by not complying on time.

The company stated that the borrowed amount includes a one-year committed term loan financing with a maximum principal amount of 0.85 billion yuan (with a term of 364 days from the date of the loan agreement), as well as a five-year committed term loan financing with a maximum principal amount of 0.85 billion yuan.

The company stated that the violation was due to unintentional negligence. To prevent similar incidents in the future, the company will strengthen its internal control system, including enhancing coordination and reporting on internal compliance with listing rules, as well as seeking professional advice before any similar proposed matters to ensure that the group can comply with relevant listing rule requirements in a timely manner.