ZWSOFT announced that the 28th meeting of its sixth board of directors reviewed and approved a proposal to apply for comprehensive credit facilities from financial institutions. The company and its subsidiaries within the consolidated statement scope plan to apply to banks and other financial institutions for total comprehensive credit facilities of no more than 600 million yuan. The types of credit include loans, guarantees, acceptance bills, letters of credit, and others, valid for 12 months from the date of board approval. The facilities are revolving and can be adjusted among different financial institutions. The company stated that the move aims to broaden financing channels and reduce financing costs. The announcement also showed that the credit limit does not equal the actual financing amount. The actual financing amount will be based on the amounts actually incurred between the company and financial institutions, and will be strictly limited within the authorized limit.
ZWSOFT Guangzhou Co LtdZWSOFT plans to apply for up to 600 million yuan in comprehensive credit facilities to broaden financing channels and reduce financing costs.
