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Tianma Technology announced that since the previous disclosure, the company and its subsidiaries have added a total of 293 million yuan in lawsuits and arbitration cases, accounting for 13.89% of the latest audited net assets. Both the company and its subsidiaries are defendants/respondents, and most of the related cases have yet to be tried in court. As of the announcement date, the company and its subsidiaries added a total of $416 million in principal loans and notes of overdue financial institutions, accounting for 19.72% of the most recent audited net assets; the total amount of overdue principal amount was $1,143 million, accounting for 54.24%. Related matters may reduce the company's ability to finance and increase financial risks. The company is advancing debt resolution efforts.
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Tianma Technology announced that since the previous disclosure, the company and its subsidiaries have added a total of 293 million yuan in lawsuits and arbitration cases, accounting for 13.89% of the latest audited net assets. Both the company and its subsidiaries are defendants/respondents, and most of the related cases have yet to be tried in court. As of the announcement date, the company and its subsidiaries added a total of $416 million in principal loans and notes of overdue financial institutions, accounting for 19.72% of the most recent audited net assets; the total amount of overdue principal amount was $1,143 million, accounting for 54.24%. Related matters may reduce the company's ability to finance and increase financial risks. The company is advancing debt resolution efforts.
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