China First Capital Group (HKG:1269) has secured a HK$50 million loan from an independent lender to fund its restructuring and cover working capital needs, according to a Friday Hong Kong bourse filing.
The facility carries 15% annual interest and is repayable by the end of 2025, or earlier upon restructuring or termination.
The loss-making firm faces a winding-up petition and had 2 billion yuan in accumulated losses as of end-2024, the filing said.
Shares of the automotive parts manufacturer closed about 7% higher on Monday.
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