China Aoyuan Group (HK:3883) has released an update.
China Aoyuan Group Limited disclosed additional financial information regarding advances to affiliated companies, following a breach of The Stock Exchange of Hong Kong’s disclosure requirements in 2023. The Group’s financial assistance and guarantees to these companies exceeded 8% of the assets ratio, prompting enhanced internal measures to monitor and report on such transactions. This comes as part of the Group’s ongoing debt restructuring, which included the disposal of a majority stake in a subsidiary.
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