Jiangsu Fasten (000890.SZ) plans to transfer the accounts receivable rights with a principal of 12.1069 million yuan.

Jiangsu Fasten (000890.SZ) announced that it plans to transfer the overdue accounts receivable debt principal of 12.1069 million yuan owed to Guangdong Provincial Highway Construction Limited Company's Humen Second Bridge Branch and other entities to Jiangsu Fasten Cable Company (referred to as "Cable"). The accounts receivable in question are debt rights generated by Cable, a subsidiary of the original company. Cable transferred these debt rights to Jiangsu Fasten Road and Bridge Technology Co., Ltd. in 2017, but the debt rights were not transferred at that time. In order to revitalize the debt assets and improve liquidity, the company has negotiated with Cable to transfer these debt rights to Cable.