[Ocean-KY] Announcement Regarding New Fund Loan to Subsidiary, Shanghai Ocean Qian Shu Commercial Management Co., Ltd.
Ocean-KY announced it will provide a new operating fund loan of 69.433 million RMB to its wholly-owned subsidiary, Shanghai Ocean Qian Shu Commercial Management Co., Ltd.
📋 Article Processing Timeline
- 📰 Published: May 20, 2026 at 09:00
- 🔍 Collected: May 21, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: May 21, 2026 at 09:13 (1h 13m after Collected)
1. Date of Occurrence: May 20, 2026
2. Recipient of funds:
(1) Company Name: Shanghai Ocean Qian Shu Commercial Management Co., Ltd.
(2) Relationship with the lender: Wholly-owned investment company
(3) Loan limit (in thousands): 59,024,600
(4) Original loan balance (in thousands): 324,020
(5) New loan amount (in thousands): 69,433
(6) Authorized by the Board for multiple drawdowns: Yes
(7) Current loan balance as of this date (in thousands): 393,453
(8) Reason for new loan: Operational requirements
3. Collateral:
(1) Content: None
(2) Value (in thousands): 0
4. Recent financial statement of the recipient:
(1) Capital (in thousands): 231,198
(2) Accumulated loss (in thousands): -980,543
5. Interest method: None
6. Repayment:
(1) Conditions: None
(2) Date: Repayment within three years
7. Total outstanding loan balance to date (in thousands): 12,390,322
8. Ratio of loan balance to net assets in most recent financial report: 327.62%
9. Source of funds: Financial institutions, parent company
10. Other notes: None
2. Recipient of funds:
(1) Company Name: Shanghai Ocean Qian Shu Commercial Management Co., Ltd.
(2) Relationship with the lender: Wholly-owned investment company
(3) Loan limit (in thousands): 59,024,600
(4) Original loan balance (in thousands): 324,020
(5) New loan amount (in thousands): 69,433
(6) Authorized by the Board for multiple drawdowns: Yes
(7) Current loan balance as of this date (in thousands): 393,453
(8) Reason for new loan: Operational requirements
3. Collateral:
(1) Content: None
(2) Value (in thousands): 0
4. Recent financial statement of the recipient:
(1) Capital (in thousands): 231,198
(2) Accumulated loss (in thousands): -980,543
5. Interest method: None
6. Repayment:
(1) Conditions: None
(2) Date: Repayment within three years
7. Total outstanding loan balance to date (in thousands): 12,390,322
8. Ratio of loan balance to net assets in most recent financial report: 327.62%
9. Source of funds: Financial institutions, parent company
10. Other notes: None
FAQ
What is the key takeaway of this news?
Ocean-KY provided an additional loan of approximately 69.4 million RMB to its Chinese subsidiary to support operational liquidity.
Why is the loan necessary?
To secure operating capital for the subsidiary and ensure business continuity.
What is the total loan balance?
After this additional loan, the total balance to this subsidiary is approximately 393.5 million RMB.