CPT Technology Group secures 730m yuan in short-term loans from controlling shareholder

CPT Technology Group has secured a total of 730 million yuan in short-term loans from its controlling shareholder, Fujian Electronics & Information (Group) Co., Ltd. This move is part of a larger plan approved by the company's Ninth Board of Directors and the 2024 Annual General Meeting, allowing for up to 1.5 billion yuan in short-term, revolving credit from the controlling shareholder for the year 2025.

The company recently received 538.4 million yuan under these agreements and has already repaid 502 million yuan, leaving an outstanding balance of 36.4 million yuan. The loan agreements stipulate a capital occupation fee rate of 5.12% per annum. For specific loans, the capital occupation fee is waived if repaid within seven working days of drawing.

The loans carry varying terms, with some having a maximum duration of six months and quarterly interest payments, while others must be repaid within one month of drawing. Fujian Huajiacai Co., Ltd., a subsidiary, provides joint and several liability guarantees for a portion of the loans, covering principal, interest, penalties, and related expenses.