ST ALLWILL TELECOM: The company's inventory stored at the Dajiang Metal Factory has suffered asset losses of approximately 25.04 million yuan due to poor management
ST ALLWILL TELECOM announced that its holding subsidiary Wuxi Donghexin signed a processing contract with Dajiang Metal, and the inventory stored at Dajiang Metal's factory suffered an asset loss of approximately 25.04 million yuan due to poor storage. The company will take legal measures to seek compensation
According to the Zhitong Finance APP, *ST ALLWILL TELECOM (002231.SZ) announced that its controlling subsidiary Donghexin New Materials Industry (Wuxi) Co., Ltd. (referred to as "Wuxi Donghexin") signed a "Processing Framework Contract" with Jiangsu Dajiang Metal Materials Co., Ltd. (referred to as "Dajiang Metal") on February 21, 2024. Wuxi Donghexin entrusted Dajiang Metal to process products such as tin-plated coils, tin-plated base coils, and hard-rolled coils. During the processing services provided by Dajiang Metal for Wuxi Donghexin, the production materials used for production, including spare parts, raw materials, and finished products, were stored at the Dajiang Metal factory.
The company has approximately 25.04 million yuan worth of inventory stored at the Dajiang Metal factory, which suffered losses due to Dajiang Metal's poor management. The company will take legal measures to seek compensation from Dajiang Metal and other relevant parties for the losses incurred
