Dynamic Power announced that the company plans to apply to actual controller Chen Zhimao for a loan facility of no more than 50 million yuan, with a term of no more than one year. The facility can be used on a revolving basis, the interest rate will not exceed the loan prime rate, and no collateral or guarantee is required. The loan will be used for daily operating needs.
Beijing Dynamic Power Co LtdCompany secures a no-collateral loan facility of up to 50 million yuan from its actual controller at a rate not exceeding the LPR for daily operating needs.
