("Gowin" or the "Company")
Trading Statement
The Company today announces the following update on trading:
· Accounts receivable
Despite the implementation of an accounts receivable strategy outlined in the half yearly report dated
The Company has engaged with its debtors aggressively: many of them cite their own liquidity challenges, some commit to payment dates and then defer; notwithstanding that most of the Company's debtors remain committed to paying their aged debts, the Company anticipates a significant write down of its aged receivables in its 2014 report and accounts.
The Company continues to execute stringent credit risk management policies with clients, including postponing sales to clients with aged accounts receivable.
· Funding
The Company continues to seek external financing to alleviate the constraints to its working capital position. A slowdown in economic growth, tighter prudential regulation and increased liability have made banks in
· Sales
The Company has made encouraging progress with export sales with a number of overseas contracts under negotiation. The directors are optimistic that these will be signed within the first half of 2015 and further announcements will be made in due course.
For further information please visit www.gowinyichia.com or contact the following:
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Garry Willinge |
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+852 9100 9972 |
James Caithie / |
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+44 20 7148 7900 |
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+44 20 7448 9800 |
This information is provided by RNS