C HEALTH GP (08225.HK): Receivables totalling RMB 128 million, RMB 2.088 million recovered since June
NewTimeSpace News: On 2 September 2026, China Health Group Inc. (stock code: 08225) voluntarily disclosed the latest progress of its receivables collection efforts. As disclosed in the Company's 2024 Annual Report, as of 31 December 2024, the total carrying amount of the Company's receivables was RMB 128 million, for which impairment provisions had been fully made in accordance with accounting standards, with such amounts mainly arising from the Group's ordinary business operations.
In respect of collection progress: the arbitration claims in respect of receivables from related parties have all been dismissed, and the Company has engaged lawyers to file an application with the court with jurisdiction to set aside the arbitration award, which is currently under review; in respect of receivables from non-related parties, the Company has reached consensus with customers with good cooperative relationships and positive repayment intentions and achieved ongoing collections, with new collections totalling RMB 2.088 million recorded from 3 June 2026 (the date of the previous collection progress announcement) to the date of this announcement; for customers with long ageing or operating difficulties, the Company has engaged third-party professional institutions for assessment and disposal while initiating corresponding legal proceedings; and for amounts that are difficult to recover, the Company has taken all lawful measures, including applying to include the relevant debtors in the list of dishonest judgment debtors. In addition, the Company has established a "Receivables Management Committee" led by the finance department with cross-departmental coordination, dedicated to collection work, and has strengthened the full-process internal controls from customer credit assessment to ageing management.
In respect of subsequent plans, the Company will continue to follow up on the review progress of the set-aside application and decide on the next legal actions (including, without limitation, initiating separate civil proceedings) based on the court's final ruling, continue to negotiate with customers in normal operation to ensure repayment according to plan, advance asset tracing and legal recovery against customers for whom bad debt provisions have been fully made (including applying for court enforcement and initiating legal proceedings), and report progress to the Board periodically and perform information disclosure obligations in accordance with the GEM Listing Rules. The Company noted that the ultimate recovery results of the receivables may be affected by various factors and remain uncertain.
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