MEICHEN SCI & TECH.: Subsidiary company incurs an additional overdue debt of 11 million yuan
MEICHEN SCI & TECH. announced that the performance of the company's landscaping business segment has declined, and the difficulty in project collections has led to some debts of its wholly-owned subsidiary, SaiShi Landscaping, and some of its subordinate subsidiaries not being repaid on time. As of the announcement date, SaiShi Landscaping and its subordinate subsidiaries have accumulated overdue debt principal totaling 11 million yuan from banks, financing leasing companies, and other financial institutions, exceeding 10% of the company's audited net assets for 2024
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