CMGE Technology Group Books RMB47.2 Million Impairment Over Developer Dispute

Reuters

11/05

CMGE Technology Group Books RMB47.2 Million Impairment Over Developer Dispute

CMGE Technology Group Ltd. has announced an accounting issue related to a prepayment made to a game developer in Chengdu. In 2021, the company paid approximately RMB47.2 million to the developer for game product development. However, the developer failed to deliver the agreed products and fulfill contractual obligations. As a result, CMGE initiated litigation against the developer in May 2024 to recover the funds. Due to the developer's refusal to repay and involvement in other enforcement actions, the company recognized an impairment of approximately RMB47.2 million during the reporting period. As of 31 December 2024, no court judgment had been issued.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. CMGE Technology Group Ltd. published the original content used to generate this news brief on November 05, 2025, and is solely responsible for the information contained therein.

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In 2021, the company paid approximately RMB47.2 million to the developer for game product development. However, the developer failed to deliver the agreed products and fulfill contractual obligations. As a result, CMGE initiated litigation against the developer in May 2024 to recover the funds. Due to the developer's refusal to repay and involvement in other enforcement actions, the company recognized an impairment of approximately RMB47.2 million during the reporting period. As of 31 December 2024, no court judgment had been issued.\n      </p>\n</div><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<em>Disclaimer: <span>This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. CMGE Technology Group Ltd. published the original content used to generate this news brief on November 05, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"00302","symbol_name":"中手游","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20251105:nNDLbB6XB:1","article_id":"2581775205","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2581775205","pubTimestamp":1762352728,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"CMGE Technology Group Ltd. has announced an accounting issue related to a prepayment made to a game developer in Chengdu. 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CMGE Technology Group Ltd. published","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"00302":"中手游","BK1591":"就地过年概念","BK1104":"互动家庭娱乐","BK1608":"元宇宙概念","BK1579":"头条系概念股","BK1531":"手游股"},"translate_title":"中手游科技集团就开发商纠纷计提减值人民币47.2百万元","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"00302":0.9},"content_text":"CMGE Technology Group Books RMB47.2 Million Impairment Over Developer Dispute\n    \n\n        CMGE Technology Group Ltd. has announced an accounting issue related to a prepayment made to a game developer in Chengdu. In 2021, the company paid approximately RMB47.2 million to the developer for game product development. However, the developer failed to deliver the agreed products and fulfill contractual obligations. As a result, CMGE initiated litigation against the developer in May 2024 to recover the funds. Due to the developer's refusal to repay and involvement in other enforcement actions, the company recognized an impairment of approximately RMB47.2 million during the reporting period. As of 31 December 2024, no court judgment had been issued.\n      \n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. CMGE Technology Group Ltd. published the original content used to generate this news brief on November 05, 2025, and is solely responsible for the information contained therein.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}