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14 Apr 2025
Green Build Technology Reports Material Variances in FY2024 Financials Due to Lease Adjustments and Subsidiary Impairments
Summary: Green Build Technology Limited identified significant variances between its unaudited and audited FY2024 financial statements. Key adjustments include the recognition of RMB 6.56 million in right-of-use assets and corresponding lease liabilities following a lease extension agreement for Hotel Nuve Elements Plus. Additionally, a RMB 431,000 impairment on a subsidiary investment was recorded, increasing the company's net loss and accumulated losses.These changes also impacted the net liabilities per share, which rose from RMB 3.87 cents to RMB 4.02 cents.