Fengyuzhu Culture and Technology Expects Debt Restructuring to Bring Up Profit By 28 Million Yuan; Shares Down 3%
MT Newswires Live
Oct 08
Shanghai Fengyuzhu Culture and Technology (SHA:603466) expects its total profit to rise by 28 million yuan after the restructuring of its debt, according to preliminary calculations, the company said in a Thursday disclosure on the Shanghai bourse.
The Chinese digital culture display services provider's debt restructuring involved receivables reaching 56.8 million yuan, with an estimated recoverable amount of 43.2 million yuan.
About 39.7 million yuan under the debt restructuring has been received and the remaining amount will be will be used based on relevant agreements.
The company's shares dropped 3% during the afternoon trade.
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