Securities code: 000671 securities abbreviation: Yango Group Co.Ltd(000671) Announcement No.: 2022-014
Announcement on the progress of issuing asset-backed notes for construction industry
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
Yango Group Co.Ltd(000671) (hereinafter referred to as “the company”) disclosed the announcement of Yango Group Co.Ltd(000671) on the issuance of asset-backed notes for construction industry (Announcement No.: 2020-258) on the designated information disclosure media on September 4, 2020, The company carries out asset securitization financing by way of factoring company’s transferee of the accounts receivable and its subsidiary security interests of the upstream supplier of Yango Group Co.Ltd(000671) subsidiary company to the debtor. This matter has been deliberated and adopted at the 9th meeting of the 10th board of directors and does not need to be submitted to the general meeting of shareholders for deliberation. Its progress is as follows:
1、 The details are as follows:
(I) total product scale: no more than 150 million yuan (including), issued in multiple phases;
(II) assets: accounts receivable creditor’s rights and subsidiary security interests enjoyed by the factoring company to the trust company against the debtor and joint debtors;
(III) product term: the duration of each asset-backed note is expected to be no more than 365 days;
(IV) coupon rate: the specific service life of asset-backed notes in each period shall be determined according to relevant regulations of regulatory authorities and market conditions;
(V) credit enhancement measures: the company intends to assume the due payment obligation of accounts receivable to the trust company (on behalf of the asset-backed bill trust) as a co debtor of asset-backed bills;
(VI) issuance method: issue by stages after approval;
(VII) validity period of the resolution: it shall take effect from the date of deliberation and adoption by the board of directors of the company.
2、 Progress
On November 5, 2021, the first meeting of holders of asset-backed notes of Shenzhen Qianhai Lianjie commercial factoring Co., Ltd. in 2021 was held, The meeting considered the proposal on changing the cashing scheme and product term of asset-backed notes of Huaji construction industry phase I asset-backed notes of Shenzhen Qianhai Lianjie commercial factoring Co., Ltd. in 2020. While being the co debtor of asset-backed notes, the company provided the difference to make up the principal and interest under the contract and extended cashing settlement agreement.
It is hereby announced.
Yango Group Co.Ltd(000671) board of directors
January 21, 2002
