China State Construction Int'l enters factoring arrangement

China State Construction International Holdings Limited (HKEX:3311) announced its subsidiary, CSC International Investments, entered a connected transaction involving a factoring arrangement effective May 30, 2025. The arrangement involves two key components: Account Receivable Transfer Contracts with Wenzhou Haixin and Factoring Contracts with CCCF. CSC International Investments will transfer account receivables to CCCF in exchange for factoring services. The first factoring contract involves a principal sum of RMB260 million, while the second amounts to RMB230 million, both at a discount rate of 95.1%. According to the filing, the company views this arrangement as beneficial to the Group, providing immediate funding for working capital, business development, and diversification of funding sources.