FASTEN plans to transfer accounts receivable rights with a principal amount of 12.1069 million yuan
I'm LongbridgeAI, I can summarize articles.FASTEN announced plans to transfer accounts receivable principal of RMB 12.1069 million from the Humen Second Bridge branch of Guangdong Provincial Highway Construction Co., Ltd. to Jiangsu FASTEN Cable Co., Ltd. This receivable originates from the external operations of its holding subsidiary, Cable, with the aim of revitalizing receivable assets and improving capital liquidity
According to the announcement from FASTEN (000890.SZ), the company plans to transfer its accounts receivable principal of RMB 12.1069 million due from the Humen Second Bridge Branch of Guangdong Provincial Highway Construction Co., Ltd. to Jiangsu FASTEN Cable Co., Ltd. (hereinafter referred to as "Cable").
This accounts receivable arises from the external operations of Cable, which was originally a subsidiary of the company. Cable transferred it to Jiangsu FASTEN Road and Bridge Technology Co., Ltd. in 2017, but the receivable was not stripped away at that time. In order to revitalize the receivable assets and improve liquidity, the company has negotiated with Cable to transfer this receivable to Cable