According to Zhitong Finance App, First Tractor Co., Ltd. (00038) issued an announcement. On August 25, 2026, China Aircraft Factoring, a wholly-owned subsidiary of the company, signed a factoring business agreement with China Machinery Factoring. According to this, China Aircraft Factoring agreed to provide factoring services to Yituo Guomao for some accounts receivable formed by China Machinery Group's sales of goods to enterprises affiliated with China Machinery Group.

The board of directors believes that the implementation of this continuous linked transaction can provide more flexible settlement methods for cooperation between the two parties, help promote the development of the company's export business, and at the same time help the company accelerate the recovery of accounts receivable, optimize capital turnover, and enhance asset liquidity.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.