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Due to the continued downturn in the photovoltaic industry, Tianlong Optoelectronics has been losing money for two consecutive years. The company's operating pressure is relatively high. If the company continues to lose money in 2014, it will lead to suspension of listing, and the debt clearance of suppliers and related cooperative manufacturers will be more difficult. In order to enable both parties to become a long-term strategic cooperation supply and demand relationship, some suppliers and related collaborative manufacturers agreed to waive part of the debt.
Tianlong Optoelectronics introduced that this debt exemption can reduce the company's operating burden and is conducive to the company's long-term development. The specific amount of debt discounted income shall be subject to the auditor's audit results.
Tianlong Optoelectronics' 14.11 million debt is exempted
On the evening of January 19, Tianlong Optoelectronics announced that the company recently signed a "Debt Waiver Agreement" with 72 suppliers and cooperative manufacturers such as Xi'an Hengxin Automatic Control Co., Ltd., and re-confirmed the discount on the company's debt of 24.2982 million yuan. The debt amount is 10.1833 million yuan, and the relevant suppliers and cooperative manufacturers confirm the waiver of the ownership of the discounted part, and no longer claim the relevant rights of the part of the payment. The debt discount is expected to achieve a gain of 14.11 million yuan, which will be included in the 2014 profit and loss.