Joy City Property Limited has confirmed a renewed financing arrangement with a bank, involving an uncommitted revolving loan facility of up to US$54 million. Announced on June 12, 2025, this agreement extends the maturity of the facility by 12 months from the date of the renewed facility letter, dated May 21, 2025. The funds will be used to refinance existing debt and support the company's general working capital needs. A key condition of the facility is that COFCO Corporation, the controlling shareholder, must remain the largest shareholder of Joy City Property Limited. If COFCO loses its controlling power, it would trigger an event of default, making the facility immediately due and payable. Joy City Property Limited will continue to disclose relevant details in its interim and annual reports as required by the Listing Rules.
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