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BackGood news! Sinopec’s Dingyue Lending Contract was successfully extended for one year
Good news! Sinopec’s Dingyue Lending Contract was successfully extended for one year
BREAKING
自由时报1 hour agoBusiness2 min readChinaView original

Good news! Sinopec’s Dingyue Lending Contract was successfully extended for one year

The Jinghua Plaza land development project was delayed due to external uncertainties. Chen Yingjun, general manager of Sinopec, announced that the joint loan contract had been extended by one year with the approval of all banks.

SinopecDingyue DevelopmentJinghua Plaza

Quick Look

  • The land development project of Jinghua Plaza developed by Sinopec's Dingyue Development has been delayed for some reason.
  • General Manager Chen Yingjun announced that the joint loan contract has been extended by all banks for one year.
  • It is expected to repay a total of 1 billion yuan in installments in 2027, and plans to dispose of the southern real estate to improve finances.

AI-generated summary

Why It Matters

The land development project of Jinghua Plaza developed by Sinopec's Dingyue Development was affected by external uncertainties, resulting in delays in progress.

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Sinopec’s Dingyue Lending Contract was successfully extended for one year. (Extracted from the stock exchange website)

[Reporter Zhang Huiwen/Report from Taipei] Plastics stock Sinopec (1314) held a major news press conference this evening. General Manager Chen Yingjun announced that the land development project of Jinghua Plaza developed by its subsidiary Dingyue has been delayed due to external uncertain factors and related procedures, which has led to delays in development, construction and sales progress, which has affected the repayment schedule. After many communications with the joint loan financial institution, today (20th) successfully obtained the consent of all joint loan banks, and the joint loan contract was extended for one year.

Chen Yingjun said that the expiration date of the Liandai contract was originally scheduled to expire on November 5 this year. After many negotiations between Sinopec, Dingyue Development and Liandai financial institutions, they have obtained the consent of all banks and been granted a one-year extension. As for repayment, 500 million yuan will be repaid in March 2027 and 500 million yuan in September 2027 respectively.

He also pointed out that Sinopec will dispose of investment real estate in the south, and the proceeds from the disposal will be used to repay bank loans and improve the financial structure. It will also retain some funds to support daily operations and subsequent transformation and development, and the industry will continue to promote transformation and upgrading to safeguard the rights and interests of shareholders and other stakeholders.

What to Watch

AI outlook — possibilities, not facts

  • Repay NT$500 million in March and September 2027 respectively

    Very likely · Within months

Open Questions

  • What are the exact amounts and objects of Southern Real Estate Disposal?

Related Topics

Sinopec
PeopleChen YingjunZhang Huiwen
OrganizationsDingyue Developmentstock exchangeFree Finance
PlacesTaipei
TopicsDingyue DevelopmentJinghua PlazaChen YingjunJoint loan extensionPlastic stocks
This article was originally published by 自由时报.

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