Why Haidilao’s US$14.9 million credit line to founder is fuelling China tax speculation
Haidilao International Holding has agreed to provide its founder, Zhang Yong, with a one-month loan of up to the Hong Kong dollar equivalent of 100 million yuan (US$14.9 million), a move that has raised market speculation as investors closely watch Beijing’s October 22 deadline for offshore trust taxation.
The Hong Kong-listed hotpot chain said in a stock exchange filing on Monday night that it would fund the loan from internal resources and charge interest at 0.6 percentage points above the...
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