KingClean Electric boosts growth strategy with debt financing

** KingClean Electric (SSE:603355) announced a multifaceted strategy involving new debt financing and streamlined organizational structure. The company aims to enhance its financial stability and support continued expansion, both within China and abroad. Firstly, KingClean secured RMB 800 million in credit from related party Nison International Holdings, effective for one year, with no collateral. As of December 31, 2024, the company had drawn $1.171 million from this credit line. This capital will provide additional resources for general corporate purposes. Secondly, KingClean secured strategic equity investments in its various business arms, streamlining the organizational structure. In the same announcement, the report confirmed a prior plan to inject $ 49.6 million into the new sub, resulting in it to taking the company’s existing service and licensing agreements with Altratec GmbH.