Beijing Centergate Technologies (SHE:000931) approved the proposal for indirectly owned subsidiary, Duoduo Pharmaceutical, to use its real estate as collateral for a 45 million yuan financing credit, according to a Shenzhen bourse filing on Wednesday.
The credit will be applied at Agricultural Bank of China's (HKG:1288, SHA:601288) Jiamusi Dongfeng branch.
The collateral will include 40 properties in Heilongjiang Province, China, which has an appraised value of about 90 million yuan as of Jan. 17, 2025.
The Chinese personal care products manufacturer's shares slipped 1% during the afternoon trade.
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