Sinonet & Xinlong Science & Technology Secures 259-Million-Yuan Debt Waiver to Ease Project Pressure

MT Newswires Live11-28

Anhui Sinonet & Xinlong Science & Technology (SHE:002298) subsidiary Beijing Sino-Evertop will receive a 258.5-million-yuan debt waiver from project partner Jinshang Land Consolidation.

The agreement follows slow repayments from two smart land development projects in China's Henan Province, according to a Friday filing with the Shenzhen bourse.

Beijing Sino-Evertop will pay 96.2 million yuan upfront in 2025, with Jinshang clearing all remaining obligations.

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