Yango Group Co.Ltd(000671) : the company’s available funds are exhausted, and there is great pressure on long-term and short-term debt repayment

Yango Group Co.Ltd(000671) (000671) replied to the letter of concern from Shenzhen stock exchange that the overall market environment and the company’s own fundamentals showed a precipitous decline in 2021, and the corresponding inventory falling price reserves were withdrawn based on the principle of prudence. The real estate market is down, the industry funds are facing more than expected tightening, the refinancing market is frozen, the available funds of the company are exhausted, and there is great pressure on long-term and short-term debt repayment. At present, due to the failure to pay the interest of overseas foreign debt, large-scale cross default has been triggered.