CITIC Heavy Industries (SHA:601608) wrote off 1.1 million yuan worth of debt owed to the company in the fourth quarter of 2024, according to a Shanghai Stock Exchange filing on Saturday.
The Chinese heavy machinery maker said the accounts receivable could not be recovered, but it would not have a significant impact on the company's profit during the period.
For the entire 2024, the company's total amount of debt written off was around 2 million yuan, the filing said.
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