Sheng Ye Capital Limited (08469) said its subsidiary Khorgos Yong Zhuo Factoring has agreed to dispose of two accounts receivables to China Fortune International Trust Co. Ltd. at a consideration of approximately RMB77.7 million and RMB41.3 million respectively.
The group intends to use the proceeds from disposal of the accounts receivables to finance the factoring loans granted by the group to its customers and as general working capital.
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