Yuexiu Transport Clinches CNH 50.00 Million Revolving Loan; Shareholding Covenant Sets Default at Below 30% Control

Bulletin Express
03/24

On 24 March 2026, Yuexiu Transport Infrastructure Limited signed a facility agreement with a commercial bank that provides a CNH 50.00 million revolving loan for a 364-day tenor, according to a Rule 13.18 filing with the Hong Kong Stock Exchange.

The loan carries a change-of-control covenant: an event of default will be triggered if controlling shareholder Yue Xiu Enterprises (Holdings) Limited (i) ceases to be the single-largest beneficial shareholder, (ii) reduces its direct or indirect stake below 30 percent of Yuexiu Transport’s voting share capital, or (iii) loses management control of the company. Should any of these conditions occur, the lender is entitled to demand immediate repayment of all outstanding borrowings under the facility.

As of the announcement date, Yue Xiu holds approximately 44.2 percent of Yuexiu Transport’s issued shares, comfortably above the 30 percent threshold stipulated in the covenant.

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