Pipe producer Yonggao says may take action against China Evergrande over unpaid bills By Reuters
© Reuters. FILE PHOTO: An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018. REUTERS/Bobby Yip
SHANGHAI (Reuters) – Shenzhen-listed pipe producer Yonggao Co Ltd said on Wednesday that China Evergrande Group has not repaid some commercial bills on time, and that it could take action against the property developer.
Yonggao in an exchange filing said it has receivables worth 478 million yuan ($73.87 million) owed by Evergrande, of which 195 million yuan of commercial bills are overdue.
The company said it has suspended all supplies of products to Evergrande since May 1.
($1 = 6.4710 yuan)
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