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THT Heat Transfer Technology


Unattributed | Alive

Total Raised


Last Raised

$14.3M | 12 yrs ago

About THT Heat Transfer Technology

THT designs, manufactures and sells plate heat exchangers, shell-and-tube heat exchangers, heat exchanger units and other heat exchanger products with total heat exchange solutions, which play an integral part in helping customers improve energy efficiency.

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Latest THT Heat Transfer Technology News


Aug 15, 2016

, we had cash and cash equivalents of $5.08 million ,primarily consisting of cash on hand and demand deposits. In addition, we havean approximately $5.72 million credit line from Agriculture Bank of China . Weanticipate that cash on hand and borrowing capacity under our bank loans will besufficient to satisfy our ongoing obligations. We believe our allowance for doubtful accounts is appropriate. We have aninstallment payment arrangement with our customers. The current economicslowdown and China's tightened credit policy led to delayed payments and delayeddelivery schedules by our customers, which in turn caused us to increase ourallowance for doubtful accounts from $7.65 million in the six months ended June30, 2015 to $8.18 million in the same period in 2016. To control inflation aftera massive stimulus plan, the Chinese government tightened its credit policy. Asa result, state-owned banks limited their lending to large state-ownedcorporations and privately held companies continue to have difficulty accessingcapital. Most of our customers have been affected by the tightened credit policyand have limited access to capital. The Company records an allowance fordoubtful accounts at a rate of 25% for receivables aged between 1 to 2 years,50% for receivables aged between 2 to 3 years and 100% for receivables aged over3 years. 7 -------------------------------------------------------------------------------- Our allowance of obsolete inventory is also appropriate because we purchase rawmaterials after we receive purchase orders. Although our customers may delaytheir payment or delivery schedules, which increase our inventories, they do notcancel their orders so as to cause us to classify the delayed inventories asobsolete inventories. We expect that the trend of delayed customer payments and delayed deliveryschedules will continue in the future. We have been taking the followingmeasures to mitigate the situation: 1) send the collection letters or call thecustomers to request payment; 2) appoint specialists to visit our customers tocollect payment; and 3) file law suits. PRC legal restrictions permit payments of dividends by our PRC subsidiaries onlyout of their accumulated after-tax profits, if any, determined in accordancewith PRC accounting standards and regulations. Our PRC subsidiaries are alsorequired under PRC laws and regulations to allocate at least 10% of their annualafter-tax profits determined in accordance with PRCGAAP to a statutory generalreserve fund until the amounts in said fund reaches 50% of our registeredcapital. Allocations to these statutory reserve funds can only be used forspecific purposes and are not transferable to us in the form of loans, advances,or cash dividends. Given that the Company and the PRC subsidiaries do not intendto pay dividends for the foreseeable future, we consider the impact ofrestrictions on our liquidity, financial condition and results of operations isnot significant. The following table provides a summary of our net cash flows from operating,investing, and financing activities. © Edgar Online, source

THT Heat Transfer Technology Frequently Asked Questions (FAQ)

  • What is THT Heat Transfer Technology's latest funding round?

    THT Heat Transfer Technology's latest funding round is Unattributed.

  • How much did THT Heat Transfer Technology raise?

    THT Heat Transfer Technology raised a total of $14.3M.

  • Who are the investors of THT Heat Transfer Technology?

    Investors of THT Heat Transfer Technology include MC Capital and Infinity Group.

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