Zoomlion Heavy Industry Science and Technology (HKG:1157, SHE:000157) decided to write off bad debt amounting to 254.6 million yuan as the amount cannot be recovered, according to a Shenzhen Stock Exchange filing on Tuesday.
The amount includes accounts receivable worth 252.3 million yuan and other receivables of 2.3 million yuan.
The write-off will trim the 2024 pre-tax profit of the Chinese construction and agricultural machinery manufacturer by nearly 23 million yuan.
The company's Hong Kong shares closed over 3% lower.
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