China Greatwall Technology Group, Units Seek Credit Line Adjustments

MT Newswires Live09-06

China Greatwall Technology Group (SHE:000066) and its subsidiaries sought 1.73 billion yuan in adjustments for its credit line with five banks, according to a Friday filing with the Shenzhen Stock Exchange.

The credit line comprises a 10 billion yuan component by the parent and 14.5 billion yuan by subsidiaries China Electric Great Wall Technology, Hunan Great Wall Technology Information, Changsha Xiangji Haidun Technology, and Hunan Great Wall Haidun Fiber Optic Technology for a total of 24.5 billion yuan, the filing said.

The subsidiaries sought adjustments with Bank of China (HKG:3988, SHA:601988), China Construction Bank (HKG:0939, SHA:601939), Agricultural Bank of China (HKG:1288, SHA:601288), Huaxia Bank (SHA:600015), and China Merchants Bank (HKG:3968, SHA:600036).

Among the adjustments, China Electric Great Wall proposed to reduce its credit limit with China Merchants Bank to 200 million yuan from 300 million yuan, and lower its credit limit with AgBank to 500 million yuan from 700 million yuan.

Price (HKD): $7.97, Change: $-0.14, Percent Change: -1.73%

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