In 2023, Maoqian Industry Co., Ltd. saw steady growth in accounts receivable, with the annual amount reaching 13.5 million yuan, a year-on-year increase of 20.5%—continuing to stay at a well-off level that aligns with the company’s development scale. The growth was mainly driven by the expanded market share of its core businesses: the wooden structure component sales volume increased by 22%, and the newly launched prefabricated wooden house business contributed 15% to the total receivables, benefiting from the domestic rural revitalization policy.
The company further upgraded its receivables management by introducing an intelligent tracking system. The system automatically sends payment reminders 10 days before the credit period expires and generates real-time receivables status reports, which improved management efficiency. As a result, the average receivable cycle was shortened to 60 days, and the non-performing receivable rate remained at 0, with all overdue payments (less than 30 days) recovered in the same quarter.
By the end of 2023, 95% of the annual receivables had been collected, and the remaining 5% (0.675 million yuan) were from 3 long-term cooperative clients with a 10-year payment record. This stable receivables performance ensured sufficient working capital for the company, supporting the R&D of new environmentally friendly wood materials.
