CMGE Technology Group Books RMB47.2 Million Impairment Over Developer Dispute
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CMGE Technology Group Ltd. has recognized an impairment of RMB47.2 million due to a dispute with a game developer in Chengdu. The company made a prepayment for game development in 2021, but the developer failed to deliver the products as per the contract. CMGE initiated litigation in May 2024 to recover the funds, but as of December 31, 2024, no court judgment had been issued.
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