China's economic slowdown showing in Yongmao's books

PROFITS and revenue might be up at Fushun-based cranemaker Yongmao Holdings.

But China's slowdown is still showing on its financial statements.

Its receivables have shot up almost 70 per cent to 363 million yuan (S$73 million) over its last financial year ended March 31, while revenue was up by just 35 per cent to 909.6 million yuan. At first glance, this indicates customers are taking longer to pay back the firm.

Another reason for higher receivables…