Tianjin Dev clinches HK$100 million revolving loan; lender requires Tianjin SASAC to keep majority stake

Bulletin Express04-29

Tianjin Development Holdings Limited (Tianjin Dev) has signed a facility letter with an unnamed bank on 29 April 2026, securing a HK$100.00 million revolving loan. The agreement carries no fixed tenor and may be reviewed at the lender’s discretion.

A key covenant obliges the State-owned Assets Supervision and Administration Commission of the Tianjin Municipal People’s Government (Tianjin SASAC) to retain direct or indirect ownership of more than 50 % in Tianjin Dev. Tianjin SASAC currently controls approximately 62.81 % of the issued share capital through its subsidiaries.

Should Tianjin SASAC’s stake fall below the stipulated threshold—or other undertakings be breached—the lender reserves the right to suspend, withdraw, or demand immediate repayment of all or any part of the facility, and to decide whether future drawings will be permitted.

The disclosure was made under Rule 13.18 of the Hong Kong Listing Rules. Tianjin Dev stated it will continue to observe ongoing disclosure obligations under Rule 13.21 for as long as the covenant remains in force.

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