Jiu Rong Advances Asset Sales and Refinancing to Address Going-Concern Audit Disclaimer
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Jiu Rong Holdings Limited (HK:2358) is addressing a going-concern audit disclaimer by pursuing asset sales, creditor negotiations, and refinancing. The company has sold 11 bus charging stations in Hangzhou to improve liquidity and is negotiating with major creditor Westlake Electronics for extensions and interest reductions. Additionally, it has secured renewals on approximately RMB82.3 million of borrowings, indicating progress in stabilizing its financial position. Jiu Rong operates in the new energy sector and relies on bank borrowings and supplier credit for its operations.
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