[Grand Ocean] Collection Status of Receivables from Shenzhen Damahua Investment Co., Ltd.
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AI Summary (NQ-processed)
Grand Ocean Retail Group announced the collection status of its remaining receivables of approximately RMB 61 million from Shenzhen Damahua Investment Co., Ltd. The company has already made a full allowance for this amount and is currently in discussions to recover the debt from future development returns following the resumption of a related real estate project led by the Quanzhou municipal government.
AI Analysis
Frequently Asked Questions
- Q: What is the uncollected debt of Grand Ocean?
- A: It is approximately NT$281 million (RMB 61 million).
- Q: Is there a prospect of recovery?
- A: Discussions are underway to recover it from the returns of a government-led resumed project.
- Q: Is there a financial impact?
- A: A full allowance for impairment loss was already provided in Q2 2023.