FilingReader Intelligence
Ever Reach Group cleared on prepayments, trading halted
July 16, 2025 at 05:04 PM UTC•By FilingReader AI
An independent investigation cleared Ever Reach Group of wrongdoing over 357.5 million yuan in prepayments to suppliers, finding commercial justification and confirming they did not constitute lending.
Pre-sale proceeds totaling 932.3 million yuan in 2023 and 801.2 million yuan in 2024 were largely returned to the company. Trading remains suspended despite the clearance.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
HKEX:3616•Hong Kong Exchange
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