GLOBAL BIO-CHEM(00809) 2022Q4 Earnings Summary
Bullish Points:
1. The company is exploring various possibilities to raise funds for the next phase of the debt restructuring plan, and some potential investors have expressed interest in setting up a fund of approximately RMB 1.5 billion to RMB 1.6 billion to buy back all transferred loans.
2. The overall debt restructuring plan is expected to be completed by the end of 2023 to the first half of 2024 for the full repurchase of all transferred loans and by the end of 2025 for the payment of the outstanding amount for the repurchase loan.
3. Repayment plans for other outstanding loans include refinancing through daily business operations, future operating cash flows after the debtor company resumes operations, and the exclusion of loans from the consolidated financial statements after the completion of the sale of Dacheng Sugar Industry.
Bearish Points:
1. No written agreement has been reached with potential investors, and they have not made a final decision on investing in the company.
2. The company's auditor, Zhongshen Zhonghuan (Hong Kong) Accounting Firm, has issued a disclaimer of opinion for the company's consolidated financial statements for the year ended December 31, 2022.
In summary, GLOBAL BIO-CHEM (00809) is working on a debt restructuring plan and has attracted interest from potential investors. However, no written agreement has been reached, and the company's auditor has issued a disclaimer of opinion for the financial statements. The situation remains uncertain, and investors should monitor the company's progress closely. For more information, you can read the original text of GLOBAL BIO-CHEM's financial report: https://static.tigerbbs.com/6241a55860aa460ea328da475d708470
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