Baosheng Lists RMB226M Receivables for Sale at 96% Discount to Book Value

summarizeSummary

Baosheng Media Group publicly listed RMB226.2M (US$33.4M) of receivables for transfer, but an independent appraisal values them at only RMB8.56M (US$1.26M) — a 96% discount to book value. No purchaser has been selected.

check_boxKey Events · Financing and Capital Events · BAOS

• Receivables Listed at 96% Discount

  Four Baosheng subsidiaries publicly listed RMB226.2M (US$33.4M) of long-aged receivables and one prepaid account on the Beijing Equity Exchange, with an independent appraisal valuing the assets at only RMB8.56M (US$1.26M).

• Minimal Recovery Expected

  Initial transfer floors total RMB8.56M, implying recovery of roughly 4% of book value if sold at the floor — a strong signal that most of the receivables may be uncollectible.

• No Purchaser Yet

  The public listings do not themselves effect a transfer; no purchaser has been selected, and completion remains subject to listing procedures, definitive documentation, and payment.

• Payment Terms

  Published terms require 50% of the purchase price (including deposit) within five business days of agreement execution, with the remaining 50% payable within one month.

auto_awesomeAnalysis · BAOS · Trade & Services

Baosheng Media Group is attempting to sell RMB226.2 million (US$33.4 million) of long-aged receivables and a prepaid account through public listings on the Beijing Equity Exchange, but an independent appraisal values the assets at just RMB8.56 million (US$1.26 million) — a 96% writedown. The company has been burning through dilutive financings all summer, including a $12.5M private placement and a terminated $30M equity line, and this distressed asset sale suggests balance-sheet cleanup under cash pressure. If completed at the floor price, the company would recover only about 4% of the assets' book value, signaling that much of its receivables may be uncollectible.