Hengxin Technology Ltd. (HXTL) has entered into a Financial Services Framework Agreement with connected party HT Finance on 26 June 2026. The pact covers three service streams—deposit, loan & credit and ancillary financial services—for a term running to 31 December 2027.
Under the agreement, HT Finance may hold up to RMB200.00 million in group deposits (including accrued interest) and extend unsecured loans of up to RMB500.00 million. Ancillary service fees are capped at RMB0.50 million per year. Deposit rates must be at least equal to the People’s Bank of China (PBOC) benchmarks or the best offers from major PRC commercial banks, while loan rates must not exceed comparable market levels and have historically been up to 220 basis points below the Group’s highest unsecured bank loan rates.
Because the maximum daily deposit balance exceeds 25% of the applicable percentage ratios, the deposit arrangement constitutes both a major transaction under Chapter 14 and a non-exempt continuing connected transaction under Chapter 14A of the Hong Kong Listing Rules. As a result, the deposit services—together with their caps—require approval by independent shareholders at an extraordinary general meeting (EGM). Executive Chairman and substantial shareholder Mr. Cui Wei and his associates, holding 23.38% of the issued shares, will abstain from voting.
The loan & credit services qualify for full exemption under Rule 14A.90 as they are unsecured and on normal or more favourable commercial terms, while other financial services are de minimis with percentage ratios below 0.1%.
Internal controls include mandatory quotation comparisons with at least two independent banks, monthly monitoring of HT Finance’s regulatory and financial standing, and oversight by both the independent non-executive directors and external auditors. A circular detailing the deposit services and caps, together with independent advice from Gram Capital, will be dispatched on or before 20 July 2026 ahead of the EGM.
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