New Focus (00360.HK) approved to enter into a factoring contract with Tianjin Zhongcai Commercial Factoring Co., Ltd.

Smart Finance APP News, New Focus (00360.HK) announced that the board of directors approved a commercial factoring contract on July 17, 2025. The company's wholly-owned subsidiary, New Fox Optoelectronics Technology (Shanghai) Co., Ltd. (New Fox Optoelectronics (Shanghai)), will enter into a factoring contract with Tianjin Zhongcai Commercial Factoring Co., Ltd. (Tianjin Zhongcai Factoring). According to the factoring contract, Tianjin Zhongcai Factoring will provide factoring financing for accounts receivable not exceeding RMB 30 million, for the daily operational funds of New Fox Optoelectronics (Shanghai), from July 18, 2025 to December 31, 2025. According to the factoring contract, with the approval of Tianjin Zhongcai Factoring, New Fox Optoelectronics (Shanghai) may apply for early repurchase of the accounts receivable transferred under the factoring contract. The company's wholly-owned subsidiaries New Fox Optoelectronics Technology (Qingdao) Co., Ltd., New Focus Holdings (Beijing) Co., Ltd., and Liaoning Xin Jinyu Neng Technology Co., Ltd. will provide joint guarantee for New Fox Optoelectronics (Shanghai) to ensure the proper performance of obligations under the factoring contract.