Shulou(Shulou.com)11/24 Report--

CTOnews.com, June 22, the evening of June 21, Ningde Times announced that the company intends to provide interest-free loans to employees in order to better attract and retain outstanding talents needed by the company and support employees to achieve peace of life. The total loan limit that the company can provide to employees is 0.3% of the company's latest audited net assets, and the maximum loan period is no more than ten years.

According to the announcement, the borrower should meet the following basic conditions: (1) regular employees who have signed labor contracts with companies or subsidiaries or branches and have passed the probationary period

(2) the performance is qualified before applying for a loan

(3) employees shall work in the company or subsidiary or branch during the loan period

(4) there is no bad personal credit record and has not been listed by the people's court as the executor for breach of trust.

(5) not belonging to directors, supervisors, senior managers, controlling shareholders, actual controllers and their controlling subsidiaries, shareholders who hold more than 5% of the shares of the company, etc.

The purpose of the loan: (1) employees purchase self-occupied commercial housing within the prefecture-level city or district where the work unit is located.

(2) other special loan situations as determined by the general manager of the company.

The total borrowing limit that the company can provide to its employees is 0.3% of the company's latest audited net assets. Within this limit, the loan repaid by the employee and the unused amount can be recycled for subsequent employee loan applications. If the loan balance passively exceeds the upper limit prescribed in the preceding paragraph due to the change of the owner's equity of the company, the company shall suspend the employee loan.

The borrowing amount, interest rate and term are as follows: (1) the borrowing amount: the actual amount of money that employees can borrow shall not exceed the amount of funds needed for the actual event, and the specific amount of borrowing shall be comprehensively assessed by the company in accordance with the policy requirements. If there are special circumstances, it is necessary to submit the matter to the general manager of the company for discussion.

(2) loan interest rate: the company provides loans to qualified employees in an interest-free manner.

(3) the loan period shall not exceed ten years (inclusive), and the specific loan period shall be subject to the loan agreement signed between the company and its employees.

CTOnews.com noted that according to the company's first-quarter quarterly report, Ningde Times had total assets of 640.2 billion yuan, total liabilities of 431.48 billion yuan and net assets of 208.72 billion yuan in the first quarter of 2023. If calculated on the basis of 0.3 per cent of net assets, Ningde Times will provide 626 million yuan in loans to employees.

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