New Universal Science and Technology (SHE:300472) reported overdue bank loans totaling about 19.1 million yuan across its subsidiaries, according to a Thursday filing with the Hong Kong bourse.
Beijing Wanxiang Xinyuan Technology owes around 16.0 million yuan to the Bank of China and 1.5 million yuan to the Industrial Bank.
Additionally, its Tianjin subsidiary has defaulted on a 1.6 million yuan loan from Postal Savings Bank Of China.
The company is negotiating with creditors to resolve the issue.
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