Moody Technology’s Asset Sale and Business Impact

Moody Technology Holdings Limited (HK:1400) has released an update.

Moody Technology Holdings Limited announced the forced sale of its Huangmei Properties, used for fabric manufacturing, to settle an outstanding bank loan of RMB115.12 million. Despite the sale, the company assures that the impact on its overall business is minimal, as the fabric manufacturing segment contributed less than 10% of total revenue. Investors are advised to exercise caution when dealing with the company’s shares.

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