Core Viewpoint - China Glass (03300.HK) is facing potential default on a loan agreement due to weak demand for construction glass products, which has negatively impacted accounts receivable and cash flow [1] Financing Agreement - On July 8, 2022, the company entered into a financing agreement with a syndicate of lenders represented by Standard Chartered Bank (Hong Kong) [1] - The financing is secured by the company's accounts and has an outstanding principal of 141.7 million USD, due on August 15, 2025 [1] Default Risk - The company is unable to fulfill its repayment obligations by the due date due to the ongoing downturn in the real estate sector, leading to a breach of the financing agreement [1] - This default could have negative implications for the company's operations [1] Mitigation Efforts - The company is actively seeking professional advice to address the current situation and is in discussions with financial advisors and potential financing sources to raise funds for repayment [1] - The board is exploring various options to resolve, extend, or restructure the existing bank financing and is in ongoing negotiations with lenders [1] - An emergency plan is being developed to ensure the company's debt repayment capability remains intact in case refinancing is not completed in a timely manner [1]