First Service Holding Limited (HK:2107) has released an update.
First Service Holding Limited has updated stakeholders on the negotiations regarding the final adjustment to the Balance of Consideration for the acquisition of Qingdao Luohang Enterprises Management Co., Ltd, with a significant decrease from RMB22,680,000 to approximately RMB8,214,753.24. Additionally, the company has faced issues with the disposal of receivables owed to Shangcheng Property, with outstanding payments leading to the right to deduct from the Balance of Consideration. These financial adjustments are ongoing and are part of the broader strategic moves by the company to manage acquisitions and asset disposals.
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