Telling Telecommunication Signs Debt Transfer Agreement

MT Newswires Live

2024/12/10

Telling Telecommunication Holding (SHE:000829) signed a debt rights transfer agreement with Shenzhen Xufu Yuebang Management Consulting, controlled by its Chairman Huang Shaowen, according to a Saturday filing with the Shenzhen Stock Exchange.

The transfer involves a complete debt claim against Tianfujin, including performance compensation of 24.83 million yuan. The initial transfer price is 26.72 million yuan, with adjustments based on the final arbitration ruling.

The transaction aims to recover overdue compensation and improve company liquidity. This move follows Tianfujin's bankruptcy proceedings.

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