CN Energy says frozen counterparty accounts prompt full allowance on USD 33.15 million receivable

• CN Energy clarified that new information prompted a USD 33.15 million credit-loss allowance for an acquisition reversal receivable.
• Shenzhen Xiangfeng Trading faces multiple lawsuits; all its bank accounts were frozen, undermining earlier assurances of full repayment.
• The allowance reduced the receivable’s net value to zero as of March 31, 2026, reflecting a change in estimate.

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