Common use of THE FACTORING AGREEMENT Clause in Contracts

THE FACTORING AGREEMENT. 2 The Board further announces that on 15 September 2023, Xxxxxxx entered into the Factoring Agreement 2, pursuant to which Xxxxxxx agreed to provide financing being secured by accounts receivable assigned to Chongqing Maotong from the factoring customers of Chongqing Maotong for a period of 1 year from the date of signing of the Factoring Agreement 2 with the factoring principal amount of RMB8,500,000.00 (equivalent to approximately HK$9.1 million).

THE FACTORING AGREEMENT. 2 The Board further announces that on 15 September 2023, Xxxxxxx entered into the Factoring Agreement 2, pursuant to which Xxxxxxx agreed to provide financing being secured by accounts receivable assigned to Chongqing Maotong Baicui from the factoring customers of Chongqing Maotong Baicui for a period of 1 year from the date of signing of the Factoring Agreement 2 with the factoring principal amount of RMB8,500,000.00 (equivalent to approximately HK$9.1 million).

THE FACTORING AGREEMENT. 2 The Board further announces that on 15 September 6 November 2023, Xxxxxxx entered into the Factoring Agreement 2, pursuant to which Xxxxxxx agreed to provide financing being secured by accounts receivable assigned to Chongqing Maotong Baicui from the factoring customers of Chongqing Maotong Baicui for a period of 1 one year from the date of signing of the Factoring Agreement 2 with the factoring principal amount of RMB8,500,000.00 RMB67,000,000.00 (equivalent to approximately HK$9.1 HK$71.7 million).

THE FACTORING AGREEMENT. 2 The Board further announces that on 15 September 17 October 2023, Xxxxxxx entered into the Factoring Agreement 2, pursuant to which Xxxxxxx agreed to provide financing being secured by accounts receivable assigned to Chongqing Maotong Pumei from the factoring customers of Chongqing Maotong Pumei for a period of 1 year from the date of signing of the Factoring Agreement 2 with the factoring principal amount of RMB8,500,000.00 RMB20,000,000.00 (equivalent to approximately HK$9.1 HK$21.4 million).