Huati Technology has reached mediation with Chengdu Tianfu Greenway Construction Investment Group over a contract dispute, and will recover a repurchase payment of 18.7044 million yuan. The company previously filed a lawsuit over the contract dispute, with the original claim totaling 250 million yuan. Following court mediation, Tianfu Greenway Group will pay this undisputed amount in three installments. The company had already made a bad debt provision of 2 million yuan against the receivables, which is expected to be reversed upon actual receipt of the payment. However, other amounts are still subject to subsequent settlement review and confirmation, and the recovery amount and timing remain uncertain.
Sichuan Huati Lighting TechMediation recovers 18.7 million yuan and reverses bad debt provision, improving financials.
Cendes Co Ltd Class ACompany is the counterparty in a contract dispute, ordered to pay 18.7 million yuan.