Fengyuzhu disclosed in an announcement on the evening of October 7 that the company, as creditor, has reached debt restructuring arrangements with relevant debtors regarding certain historical receivables. This debt restructuring involves a total of 14 projects, all of which are historical receivables for which the company has completed its performance obligations. As of the end of 2025, the original value of accounts receivable and contract assets for the above projects totaled 56.7603 million yuan, with cumulative bad debt provisions of 41.662 million yuan and a net book value of 15.0983 million yuan. Following consultation with the relevant debtors, the total amount expected to be recoverable is 43.2078 million yuan, of which 39.7147 million yuan has already been received as of the announcement disclosure date, and the remaining amount will be advanced in accordance with the agreement. The recovery amount, timing of receipt, and impact on the profit or loss of this debt restructuring for the unrecovered portion are all subject to uncertainty. According to preliminary calculations by the company's finance department, this debt restructuring is expected to increase the company's total profit by 28.0485 million yuan. The specific impact amount and the year of recognition will be subject to the actual receipt of funds and the results confirmed by the annual audit. The announcement shows that the counterparties to this debt restructuring have no related-party relationship with the company and do not constitute a related-party transaction, and this debt restructuring matter does not require submission to the company's shareholders' meeting for review.
Shanghai Fengyuzhu Exhibition Co Ltd Class ADebt restructuring on historical receivables is expected to boost total profit by 28.0485 million yuan.
