Chenming Paper's Overdue Debt Reaches 1.82 Billion Yuan

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Chenming Paper's Overdue Debt Reaches 1.82 Billion Yuan

MT Newswires Live2024-11-20

Shandong Chenming Paper Holdings (HKG:1812, SHE:000488, SHE:200488) accumulated overdue debt, including interest, of 1.82 billion yuan, as of Monday, according to a Hong Kong Stock Exchange filing on Tuesday.

The debt included 423.7 million yuan in loans for the company's working capital and projects, and equipment and supply chain financing, 477.8 million yuan for equipment and supply chain financing and factoring and 918.9 million yuan for commercial bills payable.

The Chinese paper manufacturer' have had 65 bank accounts frozen, accounting for 8.47% of the total number of bank accounts of the group, the filing said.

The company's Hong Kong shares dipped less than 25%, while its A and B shares dropped around 10%.

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