·Jiangsu Yuda won 2 billion financing support from Far East Leasing

Recently, Jiangsu Yuda Auto Fabric Group Co., Ltd. (stock code: 002516, referred to as “Jiangsu Yuda”) announced that in order to broaden the financing channels, Jiangsu Yuda and Far East International Leasing Co., Ltd. (referred to as “Far East Leasing”) signed the “Strategy”. The Cooperation Framework Agreement, the two parties agreed that within five years, Far East Leasing will provide Jiangsu Yuda and its subordinate units with a total amount of RMB intentional financing credit limit of not more than RMB 2 billion.
According to the agreement, Jiangsu Yida will use Far East Leasing as a long-term strategic partner and cooperation institution. The scope of cooperation between the two parties includes financial leasing, financial management, business operations, asset management, management consulting, equity investment and other comprehensive value-added services. Under the premise of meeting the national industrial policy and the financing conditions of Jiangsu Yida, Far East Leasing intends to provide Jiangsu Yida and its subordinate units with a total amount of RMB intentional financing credit limit of not more than RMB 2 billion in the next five years.
Jiangsu Yida said that the agreement aims to broaden its financing channels, promote its business expansion, and safeguard the development funds of Jiangsu Yida, which is conducive to enhancing its business capabilities and overall competitiveness.