HAIDILAO (06862.HK): Grants HKD Loan Capped at RMB 100 Million to Chairman
NewTimeSpace News: On 12 October 2026, Haidilao International Holding Ltd. (stock code: 06862) announced that it entered into a loan agreement with Mr. Zhang Yong, its controlling shareholder, executive director, chairman of the board and chief executive officer, to provide a HKD loan facility with a principal amount capped at the HKD equivalent of RMB 100 million, for a term of one month (30 days) from the date of actual payment by the Company, at an interest rate of one-month HIBOR plus 60 basis points. Interest accrues from the drawdown date and is payable together with the principal on the maturity date.
The announcement stated that Mr. Zhang is a connected person of the Company, and the provision of the loan constitutes the Group's provision of financial assistance to a connected person, hence a connected transaction under Chapter 14A of the Listing Rules. As the highest applicable percentage ratio for the loan exceeds 0.1% but is below 5%, the transaction is subject to the reporting and announcement requirements but is exempt from the circular (including independent financial advice) and shareholders' approval requirements. Mr. Zhang abstained from voting on the relevant board resolutions.
The loan is unsecured, is to be drawn down in a single tranche within three business days after the signing of the loan agreement, and is to be used solely for Mr. Zhang's personal financial arrangements. It may not be used for any illegal activity, the purchase of shares of the Company, or the provision of loans, guarantees or financial assistance to any third party.
The Board considers that the interest rate, determined by reference to the prevailing market rate for commercial loans of similar tenor and higher than the Company's HKD deposit rate for the same tenor, is expected to generate interest income for the Group and is in the interests of the Company and its shareholders as a whole. As at the date of the announcement, Mr. Zhang held 2,536,711,393 shares, representing 45.51% of the total issued share capital of the Company.
