Hengdeli (03389) said chairman Zhang Yuping has repaid the loan to Swatch in full and the shares mortgaged in favour of Swatch in securing the repayment of the loan has been fully discharged.
As a security of the loan, Zhang had mortgaged 500 million shares of Hengdeli held by Best Growth International Limited, a company owned as to 82.9% by Zhang, in favour of Swatch.