Aug 04, 2021 06:08 PM (GMT+8) · EqualOcean
*St Zhongji announced that since Xinjiang Zhongji Red Tomato Industry Co., Ltd. ("Zhongji red tomato"), a wholly-owned subsidiary of the company, has begun to resume tomato industry production, in order to ensure working capital turnover and alleviate capital pressure in 2021, Zhongji red tomato plans to apply for a loan from the company's shareholder Xinjiang production and Construction Corps Sixth Division state owned Assets Management Co., Ltd. ("Sixth Division state owned assets company"), with a loan amount of RMB 250 million; The loan interest rate is 6% per annum; The purpose of the loan is the production capital demand of Zhongji red tomato for the acquisition of tomato raw materials; The loan term is 12 months; The loan is mortgaged by the real estate and production equipment available for mortgage by Zhongji red tomato. Meanwhile, the means of production purchased by Zhongji red tomato and all products formed by its production and processing are used as the collateral of the loan.