Stock Code: 002406 Stock Abbreviation: Far East Transmission Announcement No.: 2026-008 Xuchang Far East Transmission Shaft Co., Ltd. Announcement on Applying for Comprehensive Credit Limit from Banks The Company and all members of the Board of Directors guarantee the content of the information disclosure is true, accurate, and complete, and that there are no false records, misleading statements, or major omissions. Xuchang Far East Transmission Shaft Co., Ltd. (hereinafter referred to as the "Company") held the 18th meeting of the Sixth Board of Directors on March 26, 2026, and deliberated and passed the "Proposal on Applying for Comprehensive Credit Limit from Banks." To meet the Company's working capital needs for production, operation, and business development, and to enhance its future sustainable development capabilities, it is agreed that the Company intends to apply for a comprehensive credit limit of up to RMB 2 billion from various banks. This credit application is subject to the approval of the Company's 2025 Annual General Meeting of Shareholders
002406SZSE
Announcement on Applying for Comprehensive Credit Limit from Banks
✨ AI Summary
The company plans to apply for a comprehensive credit limit of up to RMB 2 billion from various banks to support its operational needs and future development. This credit line, valid for 12 months, will be used for working capital loans, acceptance bills, and other financing instruments. The company will not provide collateral for this credit line. The board has authorized the chairman to handle related financing matters.
Summary generated by AI · Always verify with source document
Full Translation
AI Translation· gemini_document
Sign in to read the full translation
Free accounts get 10 full releases per month. Pro subscribers get unlimited access.