CMGE Technology Group Books RMB47.2 Million Impairment Over Developer Dispute
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.
CMGE Technology Group Ltd. has announced an accounting issue related to a prepayment made to a game developer in Chengdu. In 2021, the company paid approximately RMB47.2 million to the developer for game product development. However, the developer failed to deliver the agreed products and fulfill contractual obligations. As a result, CMGE initiated litigation against the developer in May 2024 to recover the funds. Due to the developer’s refusal to repay and involvement in other enforcement actions, the company recognized an impairment of approximately RMB47.2 million during the reporting period. As of 31 December 2024, no court judgment had been issued. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. CMGE Technology Group Ltd. published the original content used to generate this news brief on November 05, 2025, and is solely responsible for the information contained therein. © Copyright 2025 - Public Technologies (PUBT) Original Document: here
