Group 1 - The company plans to conduct accounts receivable factoring business with a total limit not exceeding RMB 1.5 billion (including equivalent foreign currency) to enhance business development and improve capital efficiency [1][2] - The factoring business will be conducted with qualified institutions such as commercial banks and commercial factoring companies, with specific terms to be determined in individual contracts [2] - The factoring method will be non-recourse, meaning the company will not be liable for the repayment of the receivables once sold [2] Group 2 - The purpose of the factoring business is to activate accounts receivable, accelerate capital turnover, and enhance asset liquidity, which will improve the company's asset-liability structure and operating cash flow [2] - The board of directors has authorized the management to select partners based on factors such as funding costs, financing periods, and service capabilities [2] - The transaction period for the factoring business is set for 12 months from the date of board approval, with the possibility of extending the authorization if individual transactions exceed this period [1][2]
中工国际: 关于开展应收账款保理业务的公告