China Putian Food Holding Ltd. (HK:1699) has released an update.
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China Putian Food Holding Ltd. has strategically shifted its focus from pig breeding to the slaughtering and meat processing industry, resulting in a significant decrease in its biological assets. This transition comes amid a challenging competitive environment, impacting its profitability and cash flow. Additionally, the company faces financial pressure due to a high demand for repayment of a Convertible Bond and Note, leading to a substantial rise in its liabilities.
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