Send us Feedback

China BAK Battery (CBAK)
Analysis
SUMMARY
BULLS
BEARS
TOPICS
Data
DATA CENTRAL
STOCK CHART
Financials
SEC FILINGS
BALANCE
INCOME
CASH FLOW

CBAK » Topics » Summary of the main articles

These excerpts taken from the CBAK 10-Q filed Feb 9, 2007.

Summary of the main articles

•

Contract number: NO.81101200600001775

•

Loan Principal: RMB 34 million;

•

Loan term: the loan RMB 20 million was from October 23, 2006 to April 15, 2007, and the other loan RMB 14 million was from October 23, 2006 to April 22, 2007.

•

Interest rate: fixed rate of 5.58%;

 

•

Penalty interest rate for delayed repayment: 5.58% plus 50% *5.58%;

 

•

Penalty interest rate for embezzlement of loan proceeds: 5.58% * 2;

•

Purpose of the loan is to provide working capital for the Company;

•

Advanced repayment of loan needs to be approved by the Lender;

•

Breach of contract penalties: suspension of loan un-provided, demand prepayment of loan principal and interest before maturity; imposition of punitive interest; compensation for the Lender’s expenses incurred due to the Company’s breach of contract such as lawyer’s fee, travel cost in case of litigation, etc.

Summary of the main articles

•

Contract number: NO.81101200600001987

•

Loan Principal: RMB 15 million;

•

Loan term: from November 23, 2006 to May 22, 2007;

•

Interest rate: fixed rate of 5.40%;

 

•

Penalty interest rate for delayed repayment: 5.58% plus 50% *5.58%;

 

•

Penalty interest rate for embezzlement of loan proceeds: 5.58% * 2;

•

Purpose of the loan is to provide working capital for the Company;

•

Advanced repayment of loan needs to be approved by the Lender;

•

Breach of contract penalties: suspension of loan un-provided, demand prepayment of loan principal and interest before maturity; imposition of punitive interest; compensation for the Lender’s expenses incurred due to the Company’s breach of contract such as lawyer’s fee, travel cost in case of litigation, etc.

Summary of the main articles

•

Contract number: NO.81101200600001925

•

Loan Principal: RMB 16 million;

•

Loan term: from November 15, 2006 to May 14, 2007;

•

Interest rate: fixed rate of 5.58%;

 

•

Penalty interest rate for delayed repayment: 5.58% plus 50% *5.58%;

 

•

Penalty interest rate for embezzlement of loan proceeds: 5.58% * 2;

•

Purpose of the loan is to provide working capital for the Company;

•

Advanced repayment of loan needs to be approved by the Lender;

•

Breach of contract penalties: suspension of loan un-provided, demand prepayment of loan principal and interest before maturity; imposition of punitive interest; compensation for the Lender’s expenses incurred due to the Company’s breach of contract such as lawyer’s fee, travel cost in case of litigation, etc.
This excerpt taken from the CBAK 10-Q filed Aug 22, 2006.

Summary of the main articles

 

•   Contract number: is Shenfa Longgang zongzi NO.20060329001.

 

•   Contract term: from April 29, 2006 to April 29, 2007, and the amount of credit to be extended by Development Bank is RMB 150 million.

 

•   Remedies in the event of breach of contract include adjustment of the credit amount, suspension of credit, imposition of punitive interest and overdue interest, an increase of guarantee deposit and the call back of loan principal and interest before maturity.

 

•   Special terms:

 

  •   The maximum amount for credit facilities will be extended to RMB150 yuan after the two new production lines are pledged as collateral for this Comprehensive Agreement;

 

  •   Credit facilities under Comprehensive Agreement can only be used for making up working capital;

 

  •   In case the credit of the Company is rated as bad by other banks or the Company is involved in any material adverse litigation, Development Bank is entitled to declare the credit facilities granted to the Company become mature in advance to its original expiry date;

 

  •   The Company undertakes that after getting the land use right of the BAK Industrial Park, the Company will pledge the construction under BAK Industrial Park Phrase I in a proportion of the credit facilities under the Comprehensive Agreement to Development Bank. And the Company will deposit 50% of its sales amount incurred during the term of the Comprehensive Agreement. The deposits will be first used for repayment of the credit facilities, or Development Bank is entitled to declare the credit facilities granted to the Company become mature in advance to its original expiry date;

 

  •   If the asset liability ratio of the company exceeds 70%, the current asset/current liability of the Company less than 0.8, the sales revenue or net asset of the Company declines by 10% when compared with the same period of the previous year, Development Bank is entitled to deem the credit facilities matured before expiration of their term.

 

  •   In case that the value of the collateral determined at the lower of its market price or factory-gate price falls below 90% of the original value, the Company shall make up for the discrepancy within 3 working days. If the Company fails to perform the above obligation within the said period, the Development Bank is entitled to declare the credit facilities granted to the Company become mature in advance to its original expiry date;

 

  •  

The Company shall redeem the collateral with cash within three months after the expiration of the Comprehensive Agreement, if not doing so, or in case

 

the market price of the collateral reduces materially that may have a severe negative impact upon the Development Bank’s ability to collect its credit in due time and due amount, the Development Bank is entitle to cease the grant of credit facilities.

EXCERPTS ON THIS PAGE:

10-Q (3 sections)
Feb 9, 2007
10-Q
Aug 22, 2006

RELATED TOPICS for CBAK:

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki