A-Living Smart City Services Co., Ltd. Class H (HK:3319) has released an update.
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A-Living Smart City Services Co., Ltd. reported a significant impairment loss on financial assets amounting to RMB2,884 million for the first half of 2024, primarily due to trade and other receivables from its controlling shareholder, Agile Group Holdings Limited. Most of the outstanding receivables from Agile were overdue, with an expected credit loss rate estimated at 75%. This development highlights potential financial challenges for the company and its investors.
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