YIDU TECH (02158.HK): US$65m Advance under Goldman Sachs Secured Loan Product

NewTimeSpace News: On 9 October 2026, Yidu Tech Inc. (stock code: 02158) announced that on 26 May 2025 the Group entered into a secured loan product provided by Goldman Sachs, with principal terms of a loan amount of US$65 million, an interest rate of 4.81% per annum (calculated on a 30/360 basis), a drawdown date of 28 May 2025 and a repayment date of 29 September 2025; the collateral comprises bonds issued by the Government of Singapore or the Monetary Authority of Singapore, valued at approximately S$4.2 million, with a minimum collateral amount of 5% of the loan amount.

As at the date of the announcement, the Company has received the full principal and interest under the product. The transaction was funded by the Group's internal resources and no proceeds from the global offering were used. The Company considers that the transaction was undertaken for treasury management purposes to make the best use of surplus cash from its business operations; with a term of only four months and a relatively low risk profile, it delivers a better return than ordinary commercial bank deposits, and the Company has closely and effectively monitored and managed the related risks.

Under the Listing Rules, as the highest applicable percentage ratios of the transaction (on a standalone basis) exceed 5% but are below 25%, it constitutes a discloseable transaction under Chapter 14 and is subject to the announcement requirements; in addition, as the product also constitutes an advance by the Group to an entity and the assets ratio of such advances exceeds 8%, the transaction is also required to be disclosed under Rule 13.13.

The announcement acknowledged that the Company failed to publish an announcement in respect of the transaction on a timely basis, as it had not initially classified the product as an advance to an entity under Chapter 13 or a transaction under Chapter 14; after re-examining the product with professional advisers and the Stock Exchange, the Company confirmed that it should have constituted such an advance and transaction, and has implemented the internal control measures described in its previous announcement to prevent recurrence.

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