September 25, 2018 / 1:24 AM / 3 months ago

Jilin Liyuan Precision Manufacturing defaults on bond interest payments

SHANGHAI, Sept 25 (Reuters) - Jilin Liyuan Precision Manufacturing, a maker of aluminium products, said on Tuesday that it was unable to make a bond interest payment due Sept. 25.

In a filing on the website of the Shenzhen Stock Exchange, the company said it was unable to make the interest payment of 51.8 million yuan ($7.56 million) due to cash flow issues, and was in material default.

The company warned last week that it would miss the payment.

$1 = 6.8559 Chinese yuan Reporting by Andrew Galbraith Editing by Eric Meijer

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