Micro-loan Business Management Increases Capital and Expands Shares in Guangzhou Micro-loan by RMB 20 Million; Company to Gradually Withdraw from Micro-loan Business
ST Panda announced on June 12 announcement that the company's micro-loan business management, through Guangzhou Yide Management Consulting Partnership (hereinafter referred to as "Yide Partnership"), has increased capital and expanded shares in Guangzhou Panda Internet Micro-loan Co., Ltd. (hereinafter referred to as "Guangzhou Micro-loan") by RMB 20 million based on the higher of the audited net asset value and registered capital of Guangzhou Micro-loan as of December 31, 2022. After this capital increase, the registered capital of Guangzhou Micro-loan will change from RMB 200 million to RMB 220 million, the company's shareholding ratio will change from 100% to 90.9%, and Yide Partnership's shareholding ratio will increase to 9.1%.
According to the company's overall plan for the micro-loan business, the company will accelerate the reduction of the micro-loan company's loan scale and withdraw from the micro-loan business in an orderly manner. The micro-loan business management's capital increase and share expansion in Guangzhou Micro-loan is conducive to optimizing the shareholding structure of Guangzhou Micro-loan, further strengthening the company's micro-loan business risk management, reducing the company's operational risk, and ensuring the company's orderly and stable withdrawal from the micro-loan business.