This announcement details the progress of a related party transaction where Zhang Peifeng owes 249,508,699.00 RMB to the company. A second payment of 27.72 million RMB was recently received from a third party on Zhang's behalf. However, Zhang is currently detained and facing legal issues, creating significant uncertainty regarding future payments and the company's ability to recover the remaining debt.
Summary generated by AI · Always verify with source document
The company and the board of directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and that there are no false records, misleading statements, or material omissions.
Sign in to read the full translation
Free accounts get 10 full releases per month. Pro subscribers get unlimited access.