Shandong Chenming Paper Holdings Co., Ltd. Class H (HK:1812) has released an update.
Shandong Chenming Paper Holdings Limited announced plans to provide financial assistance of up to RMB150 million to its invested company, Weifang Port Wood Chip Wharf Co., Ltd., to support its operations. This move, which involves a related party transaction, has been approved by the company’s board and aligns with the capital contributions by Shandong Bohaiwan Group, another shareholder. The financial assistance will carry an interest rate of not less than 6% per annum, ensuring a return to shareholders.
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