Applied Optoelectronics (AAOI) said Wednesday its subsidiary, Global Technology, entered into a one-year credit line agreement with Shanghai Pudong Development Bank in China, providing access to up to 500 million renminbi ($74 million) in financing.

The company said the new facility replaces a prior 250 million renminbi credit agreement signed last July, effectively doubling Global Technology's available borrowing capacity to support working capital requirements and general business operations.

Under the agreement, the compact said the credit line includes up to 150 million renminbi in working capital loans, up to 300 million renminbi in fixed-asset loans, and up to 200 million renminbi in bank acceptance bills.

The fixed-asset loan portion is non-revolving, while the working capital and bank acceptance bill facilities may be used on a revolving basis, the company added.

Global Technology can draw on the facility from May 21, 2026, through May 21, 2027, the company said, adding that any outstanding borrowings under the previous facility will remain in place and count against the new credit limit.

Shares of the company were up over 2% in Wednesday's premarket activity.

Price: 175.20, Change: +4.39, Percent Change: +2.57