Dreame pledges 247 million shares of Jiammei Packaging as collateral for a loan from Industrial Bank
Suzhou Zhuo Yue Hong Zhi Technology Development Partnership, controlled by Dreame Technology founder Yu Hao, has pledged approximately 247 million shares of Jiamai Packaging, representing 50% of its holdings and 22.51% of the total stock. This stock pledge was made to the Suzhou branch of Industrial Bank as collateral for a loan. The shares were acquired by Zhuo Yue Hong Zhi through various means for about 2.2 billion yuan, with the pledge serving as a compliant guarantee for prior financing arrangements related to the acquisition, as required by the bank's risk control measures for merger loans. AI
IMPACT This transaction highlights the financial strategies employed by AI-related companies to fund acquisitions and operations, potentially impacting their ability to invest in R&D.