China Railway Harbin Group of Technology (SHA:688459) agreed to receive financial services from China Railway Finance, according to a Shanghai bourse filing on Thursday.
China Railway Finance is a subsidiary of the Chinese rail transit safety equipment manufacturer's actual controller, China Railway Group (SHA:601390, HKG:0390).
Under the deal, the company's maximum daily deposit balance with China Railway Finance is 1 billion yuan. The daily balance for loans, discounts and other credit facilities is also capped at the same amount.
China Railway Harbin's shares slipped 2% during afternoon trade.