China Financial Services Holdings (HKG:0605) unit Shenzhen Credit Gain Finance agreed to grant an 11.2 million yuan loan to independent third party Zhang Chong.
The loan carries an interest rate of 12% per annum and will fall due in six months from drawdown.
A first legal charge mortgage related to a 13.6 million yuan residential property in Shenzhen was pledged as security against the loan.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.