Dongrui Factoring (Shanghai), an indirect unit of Doyen International (HKG:0668), entered into a factoring agreement with Shanghai Hongxuan Industrial, a Thursday bourse filing said.

Under the contract, Dongrui agreed to provide financing secured by accounts receivable assigned to Shanghai Hongxuan for one year with a factoring principal amount of 41 million yuan.

Dongrui is a subsidiary of Dongkui Financial Leasing (Shanghai), a joint venture owned 78% by Doyen International through East Profit Global Investments.