China New City Commercial Development Renews Financial Advances Contract with Controlling Shareholder

MT Newswires Live

2024/12/12

China New City Commercial Development (HKG:1321) has renewed a financial advances framework agreement with controlling shareholder Zhong An Group for three years, a Wednesday bourse filing said.

Under the new contract, which is valid from Jan. 1, 2025, and Dec. 31, 2027, the company will continue providing financial assistance in the form of recurring advances to Zhong An Group.

The renewal is subject to shareholder approval, according to the commercial property developer.

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