Risong Technology Subsidiary Receives Over 10 Million Yuan in GAC FCA Bankruptcy Distribution

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Risong Technology's controlling subsidiary, Guangzhou Risong Hokuto Automotive Equipment, has received the first bankruptcy asset distribution from GAC Fiat Chrysler Automobiles, with an actual receipt of approximately 10.2857 million yuan. This is expected to correspond to a reversal of asset impairment provisions of about 4.7647 million yuan. As of June 30, 2026, the combined balance of accounts receivable and contract assets from transactions between the two parties totaled approximately 49.0467 million yuan. The company had previously set aside a special impairment provision of about 44.142 million yuan, representing a provision ratio of 90 percent. The distribution amount was approximately 10.719 million yuan, and after deducting administrator fees of about 433,300 yuan, the funds were actually received on July 16, 2026. The administrator will carry out subsequent rounds of distribution, and the status of debt repayment remains uncertain. The specific impact will be subject to the annual audit results.

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广州瑞松北斗汽车装备有限公司Private▲ Positive
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As the direct recipient, Guangzhou Risong Hokuto receives ~10.3M yuan from GAC FCA bankruptcy distribution, reversing ~4.8M in provisions.

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