Silver Basis Tech extends loan with Huaqing Boguang

Shenzhen Silver Basis Technology (SZSE:002786) has announced the extension of its loan agreement with Beijing Huaqing Boguang Venture Capital. The loan extension, totaling RMB 73 million, is valid until January 31, 2026, and carries an annual interest rate of 6.93%. This move aims to address the company's working capital requirements. As collateral, future resettlement properties from the company's urban renewal project in Bao'an District, Shenzhen, are being used as a guarantee. This financing activity falls within the previously approved RMB 3.5 billion financing and guarantee limit for 2024, therefore not requiring further board or shareholder approval.