Changshu Fengfan Co.,Ltd. clarified: There are no substantial credit issues related to overdue bills
I'm LongbridgeAI, I can summarize articles.Changshu Fengfan Co., Ltd. clarified that media reports regarding its overdue electronic commercial bills amounting to 70 million yuan are inaccurate. The company pointed out that the overdue bills consist of two parts, of which the 40 million yuan bill has been settled due to the bank's delay in payment notification, and the 30 million yuan bill could not be discounted due to insufficient bank discount limits, but has been settled by the acceptor. Currently, there are no overdue credit issues
According to the Zhitong Finance APP, Changshu Fengfan Co., Ltd. (601700.SH) announced that on the afternoon of March 6, 2025, it noticed media reports stating that as of February 28, 2025, the cumulative overdue amount of the company's electronic commercial bills reached 70 million yuan, with a total overdue balance of 30 million yuan.
The company clarified that the report stating "the cumulative overdue amount of electronic commercial bills reached 70 million yuan" refers to overdue bills consisting of two notes. The specific details are as follows:
On November 15, 2023, the company issued a commercial bill of 40 million yuan (bill number: 231030550008320231115703943706), with a term of 6 months, and the payee being Changshu Fengfan Material Supply Co., Ltd. The purpose of issuing the above bill was to provide commercial bill financing for its subsidiary. Before the bill's maturity date, the company successfully completed discount financing; however, the bank delayed the payment notification by one day. The company received the bank's payment notification the next day and settled the 40 million yuan on the same day.
On August 28, 2024, the company issued a commercial bill of 30 million yuan (bill number: 630530552605320240828000634547), with a term of 6 months, and the payee being Fengfan Green Building (Changshu) Co., Ltd. The purpose of issuing this bill was also to provide commercial bill financing for its subsidiary. Due to insufficient discount quota from the bank for this bill, the company was unable to successfully complete the discount financing and did not process the cancellation of the commercial bill. On the maturity date of the bill, the company did not receive a payment notification from the bank. The 30 million yuan bill has been accepted and settled by the acceptor, and there are currently no overdue issues.
As of the date of this announcement, the company does not have any substantive credit issues related to overdue bills