China High Speed Transmission Equipment Group Co (HK:0658) has released an update.
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China High Speed Transmission Equipment Group Co. is grappling with a financial dispute involving RMB 6.64 billion in receivables and pre-payments, as some counterparties have challenged the payments due under recent agreements. The situation has prompted the formation of an independent committee to investigate, as the board seeks to protect shareholder interests. Investors are urged to exercise caution while the company resolves the matter.
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