CITIC Group (00267.HK): CITIC Heavy Industries plans to carry out accounts receivable factoring business.

Intelligence Finance and Economics APP News, CITIC Heavy Industries (00267.HK) announced that, in order to accelerate capital turnover, improve capital utilization efficiency, optimize asset structure, and reduce accounts receivable risks, CITIC Heavy Industries Co., Ltd. (hereinafter referred to as "CITIC Heavy Industries" or "the Company") and its holding subsidiaries plan to carry out non-recourse accounts receivable factoring business with commercial banks and other financial institutions, with a cumulative amount not exceeding RMB 400 million (including the principal). The validity period of this limit is 12 months from the date of approval by the board of directors, and the specific term of each factoring business shall be subject to the term stipulated in the individual factoring contract.