ILUVATAR COREX (09903.HK): banking facilities over RMB12 billion granted, over 80% unutilized, supporting business expansion

NewTimeSpace News: ILUVATAR COREX (09903.HK) released a voluntary announcement that, as at the date of the announcement, the Group has been granted aggregate banking facilities of over RMB12 billion by various banks.

According to the announcement, the facilities cover various types of banking products, including working capital loans, bank acceptance bills, letters of credit, bank guarantees and trade financing, and are revolving in nature and can be utilized within the validity period of the respective facilities. The actual terms of financing under the facilities, including interest rates, tenors, collateral or guarantee arrangements, are subject to the formal facility agreements entered into between the Group and the relevant banks.

The Board highlighted that the aggregate amount of the facilities does not represent the Group's actual borrowings or outstanding loan balance, and that actual drawdown will depend on business development and cash management needs; more than 80% of the facilities remained unutilized as at the date of the announcement. The Company said the facilities will provide funding support for daily operations, business expansion and project investments, help optimize financing channels and enhance financial flexibility, and will not have any material adverse impact on its business operations and financial position.