Tian An China Unit Extends 1.1 Billion Yuan Shareholder Loans to 2029, Revises Terms
Tian An China Investments' (HKG:0028) indirect wholly owned subsidiary, Tian An (Shenzhen), agreed to extend the repayment date of 1.1 billion yuan in shareholder loans provided to its joint venture to June 30, 2029, according to a Wednesday Hong Kong bourse filing.The loans, which were originally due on June 30, 2026, will also become interest-free from their respective effective dates under the amended agreements. Interest accrued up to those dates will remain payable.Separately, in April, Tian An (Shenzhen) provided a four-year loan of 18 million yuan to a subsidiary of Tian An Junye at an annual interest rate of 10%.The funds will be used for development costs and working capital for the Longgang project in Shenzhen.The companies said the loan extension will ease Tian An Junye's funding pressure and support the continued development of the Longgang project, while the new loan is expected to generate interest income for Tian An (Shenzhen).
