Glory Health Industry Ltd. Reports Progress on Debt Restructuring and Property Sales to Address Going Concern Issues
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Glory Health Industry Ltd. has reported progress on its debt restructuring and property sales to address concerns raised by auditors regarding its financial viability. The company has completed the Xi’an Guorui Financial Center Building, which is expected to boost property sales and improve cash flow. A RMB1.314 billion loan extension from the Bank of Tianjin has been approved, while negotiations with other creditors continue. Glory Health aims to resolve its financial issues by 2025 and will provide updates as required by law.
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