Yatai Group's subsidiaries added 359 million yuan in overdue debts.

September 19, Yatai Group (600881.sh) announced that the company's subsidiaries failed to fulfill part of the debt repayment obligations on time, the company's subsidiaries added 359 million yuan of overdue debt, accounting for 58.05% of the company's latest audited net assets attributable to the parent company.

In accordance with the relevant provisions of the Detailed Rules for the Implementation of the Pre-reorganisation of the Intermediate People's Court of Changchun City, Jilin Province (for Trial Implementation), during the period of pre-reorganisation, the Company and some of its subsidiaries subject to pre-reorganisation shall not pay off their debts except for the necessary expenses for the continued operation of the enterprise and the maintenance of its operating value. As at the date of this announcement, the principal and interest of overdue debts of the Company and its subsidiaries amounted to RMB6.959 billion, representing 1,124.30% of the latest audited net assets attributable to the parent company of the Company.