Current Report Filing (8-k)
July 12 2017 - 4:18PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date
of Report (Date of Earliest Event Reported): July 6, 2017
SINO
FORTUNE HOLDING CORPORATION
(Exact
name of registrant as specified in its charter)
Nevada
(State
or other jurisdiction of incorporation)
333-201037
|
35-2507568
|
(Commission
File Number)
|
(IRS
Employer Identification No.)
|
Room
2403, Shanghai Mart Tower
2299
West Yan’an Road, Changning District
Shanghai,
200336, China
(Address
of principal executive offices and zip code)
+86
021-2357-0077
(Registrant’s
telephone number including area code)
(Registrant’s
former name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of registrant under
any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01. Entry
into a Material Definitive Agreement.
On
July 6 and 10, 2017, Benefactum Alliance Business Consultant (Beijing) Co., Ltd. (“Benefactum”), the variable interest
entity indirectly controlled by the Company, as the trustor and provider of the funds to the trustee, entered into various entrusted
loan contracts (the “Entrusted Loan Contracts”) with Qingdao Weichuang Private Capital Management Co., Ltd. (“Qingdao
Weichuang”), as trustee and direct lender of the funds to the borrowers, and each of the borrowers named below. A summary
of the material terms of the loans provided by Benefactum through Qingdao Weichuang to the borrowers pursuant to the Entrusted
Loan Contracts is as follows:
|
Date
of
Contract
|
Name
of Guarantor
|
|
|
Name
of Borrower
|
|
Loan
Amount
(in
RMB)
|
|
|
Term
|
|
Annual
Interest
|
|
|
|
Maturity
Date
|
|
07-06-2017
|
Shandong Zhongtong Financing Guarantee Co., Ltd.
|
|
|
Qingdao
Zhiweiye Trading Co.,Ltd.
|
|
¥
|
9,000,000
|
|
|
6
months
|
|
|
11
|
%
|
|
01-06-2018
|
|
07-06-2017
|
Inner
Mongolia JinFengYuan Financing Guarantee Co., Ltd.
|
|
|
Qingdao XiangTailai Trading Co., Ltd.
|
|
|
10,000,000
|
|
|
3
months
|
|
|
10
|
%
|
|
10-06-2017
|
|
07-06-2017
|
Inner Mongolia JinFengYuan Financing Guarantee Co., Ltd.
|
|
|
Qingdao
Furuixianghe Garments Co., Ltd.
|
|
|
7,000,000
|
|
|
6
months
|
|
|
12
|
%
|
|
01-06-2018
|
|
07-06-2017
|
Shandong
Zhongtong Financing Guarantee Co., Ltd.
|
|
|
Yantai
Haoning Trading Co. Ltd.
|
|
|
12,000,000
|
|
|
6
months
|
|
|
10
|
%
|
|
01-06-2018
|
|
07-06-2017
|
Shandong
Zhongtong Financing Guarantee Co., Ltd.
|
|
|
Weifang
Hua Ning Trading Co., Ltd.
|
|
|
15,000,000
|
|
|
6
months
|
|
|
10
|
%
|
|
01-06-2018
|
|
07-06-2017
|
Shandong
Zhongtong Financing Guarantee Co., Ltd.
|
|
|
Weihai
Wolong Trading Co., Ltd.
|
|
|
7,500,000
|
|
|
3
months
|
|
|
12
|
%
|
|
10-06-2017
|
|
07-06-2017
|
Shandong
Zhongtong Financing Guarantee Co., Ltd.
|
|
|
Yantai
Nanrui Trading Co. Ltd.
|
|
|
9,500,000
|
|
|
6
months
|
|
|
10
|
%
|
|
01-06-2018
|
|
|
Total
|
|
|
|
|
¥
|
70,000,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Date
of
Contract
|
Name
of Guarantor
|
|
|
Name
of Borrower
|
|
Loan
Amount
(in
RMB)
|
|
|
Term
|
|
Annual
Interest
|
|
|
|
Maturity
Date
|
|
07-10-2017
|
Shandong Zhongtong Financing Guarantee Co., Ltd.
|
|
|
Qingdao
Jianwei Packing Products Co. Ltd.
|
|
¥
|
12,000,000
|
|
|
3
months
|
|
|
10
|
%
|
|
10-10-2017
|
|
07-10-2017
|
Shandong Zhongtong Financing Guarantee Co., Ltd.
|
|
|
Qingdao
XinTianda Furniture Co., Ltd.
|
|
|
10,000,000
|
|
|
3
months
|
|
|
10
|
%
|
|
10-10-2017
|
|
07-10-2017
|
Inner Mongolia JinFengYuan Financing Guarantee Co., Ltd.
|
|
|
Qingdao Dongma Import&Export Co. Ltd.
|
|
|
8,000,000
|
|
|
3
months
|
|
|
12
|
%
|
|
10-10-2017
|
|
|
Total
|
|
|
|
|
¥
|
30,000,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The
Entrusted Loan Contracts contain various events of default provisions which if breached, may result in the acceleration of all
obligations of the borrowers thereunder. The sister of Mr. Bodang Liu, the Company’s chief executive officer and chairman,
owns 48.41% of the outstanding equity interests in Qingdao Weichuang. Qingdao Weichuang receives a processing fee for acting as
trustee equal to 1.5‰ of the loan amount under each Entrusted Loan Contract. In connection with the execution of the Entrusted
Loan Contracts, Benefactum also entered into entrusted loan guarantee contracts (the “Entrusted Loan Guarantee Contracts”)
with each of the guarantors named above, pursuant to which the guarantors have agreed to guarantee the obligations under the Entrusted
Loan Contracts.
The
foregoing description does not purport to be complete and is qualified in its entirety by reference to the complete text of the
(i) form of Entrusted Loan Contract filed as Exhibit 10.1 hereto; and (ii) form of Entrusted Loan Guarantee Contract filed as
Exhibit 10.2 hereto.
Item 9.01
|
Financial
Statement and Exhibits.
|
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.
|
SINO FORTUNE HOLDING CORPORATION
|
|
|
|
|
By:
|
/s/ Bodang Liu
|
|
|
Name: Bodang Liu
|
|
|
Title: Chief Executive Officer and
Chairman
|
Dated:
July 12, 2017