HOTAI MOTOR announces on behalf of subsidiary Hotai Insurance Co., Ltd., for its board of directors made the resolution to borrow the short-term funds
· Issued by Hotai Motor Co., Ltd.
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Today's Information
Provided by: HOTAI MOTOR CO.,LTD.
SEQ_NO
1
Date of announcement
2022/08/05
Time of announcement
17:02:40
Subject
HOTAI MOTOR announces on behalf of subsidiary
Hotai Insurance Co., Ltd., for its board of directors
made the resolution to borrow the short-term funds
Date of events
2022/08/05
To which item it meets
paragraph 51
Statement
1.Date of occurrence of the event:2022/08/05
2.Company name:Hotai Insurance Co., Ltd.
3.Relationship to the Company (please enter "head office" or
"subsidiaries"):subsidiaries
4.Reciprocal shareholding ratios:NA
5.Cause of occurrence:
According to the Article 143 section 1 Paragraph 1 of the Insurance Act,
the enterprise obtains the approval of the competent authority to
borrow the short-term funds from outside parties to meet cash flow needs
arising from payment of major benefits.
6.Countermeasures:
The board of directors made a resolution to borrow the short-term funds
from outside parties.
7.Any other matters that need to be specified:NA
