AVIC Shenfei provides CNY700m loan to subsidiary

AVIC Shenfei (SSE:600760) announced it has officially signed a CNY700 million entrusted loan agreement with its subsidiary, Jilin Aviation Maintenance, to support the subsidiary's working capital needs. The loan, approved at previous board and shareholder meetings, will be facilitated through AVIC Industrial Group Finance Co., acting as the trustee. The loan has a term of one year from the date of signing and carries an annual interest rate of 1.5%. AVIC Shenfei will also pay a handling fee to AVIC Finance at a rate of 0.04% against the loan amount and the term. The agreement became effective upon signing by all parties.