Chung Ding Chairman Yang Tsung-Hsing: Shareholders Confused About 'Selling and Still Assisting'? Money Just Takes Time to Recover!
Recently, Chung Ding (9933) faced major issues with its U.S. subsidiary BKRF, leading to concerns that NT$19.6 billion in accounts receivable may be unrecoverable, prompting shareholder outcry during the meeting. Chairman Yang Tsung-Hsing stated that the situation is the biggest challenge since the company's founding, emphasizing that there are no cash flow issues and that the accounts receivable are not bad debts, assuring recovery in five years.
Shareholders expressed dissatisfaction over the continued provision of $75 million in services to BKRF, questioning why the company is still supporting operations. Yang explained that following discussions with major creditors, they agreed that enhancing BKRF's corporate value is in everyone's best interest. He holds optimism that, following restructuring, the plant will generate profits enabling the recovery of accounts receivable within five years.
