Shandong Chenming Paper Holdings (HKG:1812, SHE:000488) reported cumulative newly overdue debts of 1.66 billion yuan as of March 31, representing 18.09% of its net assets, according to a Monday filing with the Hong Kong bourse.
The company has guaranteed subsidiary financing, with 1.03 billion yuan in overdue amounts. While overdue debts may increase litigation risks and financial strain, provincial debt committees have pledged support, including loan renewals and extended terms.
The company is actively raising funds through asset sales, debt recovery, and strategic investments.
The company's shares were down 3% at the close of trading.
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