First Tractor Unit Enters Factoring Pact With Sinomach Affiliate

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2 hours ago

First Tractor Co., Ltd. (00038) has announced that its wholly-owned subsidiary, YTO International, signed a factoring service agreement with Sinomach Commercial Factoring on August 25, 2026. Under this agreement, Sinomach Commercial Factoring will provide factoring services for certain accounts receivable generated from YTO International's sales of goods to enterprises under the Sinomach Group umbrella.

The board believes that implementing this continuing connected transaction will introduce more flexible settlement options for both parties' collaboration, thereby supporting the growth of the company's export operations. Additionally, it is expected to accelerate the recovery of accounts receivable, improve cash flow efficiency, and strengthen overall asset liquidity.

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Under this agreement, Sinomach Commercial Factoring will provide factoring services for certain accounts receivable generated from YTO International's sales of goods to enterprises under the Sinomach Group umbrella.<br><br>The board believes that implementing this continuing connected transaction will introduce more flexible settlement options for both parties' collaboration, thereby supporting the growth of the company's export operations. 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