[Zhenzhuo HK Stock Update] Yanchang Petroleum International (00346.HK) has received shareholder approval to renew a $35 million loan, strengthening its financial foundation and supporting long-term development.
January 15th,$YANCHANG PETRO (00346.HK)$ The company announced that Novus Energy Inc. (“Novus”), its indirectly wholly-owned subsidiary in Canada, has entered into a renewal loan notice with Yanchang Petroleum (Hong Kong) Co., Ltd. (“Yanchang Petroleum Hong Kong”), a wholly-owned subsidiary of its controlling shareholder Shaanxi Yanchang Petroleum (Group) Co., Ltd. The relevant renewal loan has been approved by shareholders.
According to the notice, the renewal loan will commence on January 18, 2026, with an amount of $35 million at an annual interest rate of 4.8%. Novus will pay interest to Yanchang Petroleum Hong Kong every three months from the drawdown date. The loan maturity date has been extended to January 17, 2027.
Feng Yinguo, Chairman of Yanchang Petroleum International, stated, 'This renewal loan agreement, which has been approved by major shareholders, represents a vote of confidence in the group’s long-term development. The Group will continue to focus on business growth and strive to create long-term value for shareholders.'
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