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Lian Chuang Optoelectronic Warns of Potential Litigation, Asset Freeze Amid Debt Default

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Jiangxi Lian Chuang Optoelectronic Science and Technology (SHA:600363) warned of potential litigation, account freezes and asset seizures from loan and bill defaults.

The Chinese electrical and electronic manufacturing company and its marketing center subsidiary have overdue financial loans and commercial bills totaling 505.7 million yuan, exceeding 10% of audited net assets, according to a Wednesday filing with the Shanghai bourse.

The photoelectric components and telecommunication cables manufacturer is now seeking new financing, negotiating debt extensions and accelerating receivables collection.

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