记者从一线和多位知情人士处获悉，瑞茂通业务11月起陆续停摆，拖欠欠款，12月大面积裁员，预计裁 员比例高达一半，年底或仅保留部分中高层岗位。同时瑞茂通母公司整个"中瑞系"多家子公司均在陆续 裁员。 根据最新公告，瑞茂通累计金融机构借款逾期与商业承兑汇票逾期合计超20亿元，瑞茂通累计 发生尚未结案的诉讼事项涉案金额合计约为22.26亿元。（智通财经） ...

Core Viewpoint - 瑞茂通 is facing significant financial difficulties, including ongoing lawsuits and overdue debts, which have raised concerns about its operational stability and future prospects [2][6][12]. Group 1: Financial Issues - As of December 24, 瑞茂通 announced an additional lawsuit amounting to 10.21 billion yuan, bringing the total unresolved litigation amount to 22.26 billion yuan, which represents 28.21% of the company's latest audited net assets [6][7]. - The company reported overdue debts totaling approximately 20.01 billion yuan, which is 25.37% of its latest audited net assets, including overdue loans and commercial acceptance bills [8][9]. - In the first three quarters of 2025, 瑞茂通's net profit attributable to shareholders was 0.75 billion yuan, a year-on-year decline of 40.34% [12]. Group 2: Shareholder and Control Issues - The controlling shareholder, 郑州瑞茂通, has seen a significant portion of its shares frozen, with a total of 41.02 billion shares under judicial freeze, which is 377.51% of its holdings [9][10]. - Despite the high percentage of frozen shares, the company claims that this will not significantly impact its control structure or governance [10]. Group 3: Operational Performance - 瑞茂通 has experienced a decline in net profit since 2018, with only one year (2021) showing an increase, indicating a troubling trend in operational performance [11]. - The company has faced regulatory scrutiny, receiving two regulatory letters in December for issues related to information disclosure and internal controls [12].

上表中被告均为公司或公司旗下全资子公司。截至本公告披露日，公司及子公司累计发生尚未结案的诉 讼事项涉案金额合计约为222,569.5132万元人民币，占公司最近一期经审计净资产的28.21%。 登录新浪财经APP 搜索【信披】查看更多考评等级 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示： ● 案件所处的诉讼阶段：法院已立案，尚未开庭审理 ● 是否会对上市公司损益产生负面影响：本次诉讼尚未开庭审理，后续判决结果尚存在不确定性，对瑞 茂通供应链管理股份有限公司（以下简称"公司"或"瑞茂通"）本期利润或期后利润的影响存在不确定 性，最终影响以法院判决或执行结果为准。 ● 截至本公告披露日，公司及子公司连续12个月内累计发生尚未披露的诉讼事项涉案金额合计约为 102,124.9731万元人民币，占公司最近一期经审计净资产的12.95%。 一、本次新增诉讼的基本情况 ■ 二、本次诉讼对公司本期利润或期后利润等的影响 截至本公告披露日，上述诉讼尚未开庭审理，后续判决结果尚存在不确定性，对公司本期利润或期后利 润的影响存在 ...

Group 1 - The core point of the news is that 瑞茂通 is facing significant financial challenges, including overdue debts and multiple lawsuits, which could impact its financial stability and future profitability [1][2][3] Group 2 - As of December 24, 瑞茂通 reported a closing price of 3.76 yuan, down 1.05%, with a turnover rate of 2.08% and a trading volume of 226,200 shares, amounting to a total transaction value of 85.2075 million yuan [1] - The company has a total overdue debt amounting to approximately 92.23 million yuan, which represents 11.69% of its latest audited net assets [1] - The overdue debt includes 46.41 million yuan in bank loans and 45.82 million yuan in commercial acceptance bills, with a cumulative overdue total of about 200.15 million yuan, accounting for 25.37% of net assets [1][3] - 瑞茂通 and its subsidiaries have recently faced new lawsuits, with a total amount involved of approximately 102.12 million yuan, which is 12.95% of the latest audited net assets [2] - The cumulative amount of unresolved lawsuits against the company and its subsidiaries is approximately 222.57 million yuan, representing 28.21% of net assets [2][3]

| 序 | 原告 | 被告 | 诉讼类型 | 诉讼涉及金额 | 诉讼进展 | | --- | --- | --- | --- | --- | --- | | 号 | | | | （万元） | 情况 | | 1 | 河南农村商 业银行股份 有限公司郑 | 郑州卓瑞供应链管理有 限公司（借款人）、瑞茂 通（保证人）、河南瑞茂 | 金融借款 合同纠纷 | 33,426.7481 | 已立案，尚 未开庭审 理 | | | | 通粮油有限公司（共同还 | | | | | | 州中心支行 | 款人） | | | | | | 中原银行股 | 河南瑞茂通粮油有限公 | 金融借款 | | 已立案，尚 | | 2 | 份有限公司 | 司（借款人）、瑞茂通（保 | 合同纠纷 | 25,300.5386 | 未开庭审 | | | 周口分行 | 证人） | | | 理 | 一、本次新增诉讼的基本情况 案件所处的诉讼阶段：法院已立案，尚未开庭审理 上市公司所处的当事人地位：被告 涉案金额：约 102,124.9731 万元人民币 是否会对上市公司损益产生负面影响：本次诉讼尚未开庭审理，后续判 决结果尚存在不确定性，对瑞茂通供应链管理股份 ...

瑞茂通公告，公司及子公司新增诉讼涉案金额约10.21亿元，占公司最近一期经审计净资产的12.95%。 本次新增诉讼包括金融借款合同纠纷和保理合同纠纷，原告包括河南农村商业银行股份有限公司郑州中 心支行、中原银行股份有限公司周口分行等，被告均为公司或公司旗下全资子公司。本次诉讼尚未开庭 审理，对公司本期利润或期后利润的影响存在不确定性。 ...

Core Viewpoint - 瑞茂通 is facing significant financial distress due to overdue debts, which may impact its operational capabilities and financial stability [1][3][4] Debt Situation - As of the announcement date, 瑞茂通 and its subsidiaries have overdue financial institution loans totaling approximately 46,411.6876 million RMB [2] - The total overdue amount, including commercial acceptance bills, is about 92,234.3894 million RMB, representing 11.69% of the company's latest audited net assets [2] - Cumulatively, overdue financial institution loans and commercial acceptance bills amount to approximately 200,148.8649 million RMB, which is 25.37% of the company's latest audited net assets [2] Financial Impact - The overdue debts may lead to increased financial costs due to overdue interest payments and could reduce the financing capabilities of the company and its subsidiaries [3] - The company is actively communicating with stakeholders to resolve the debt issues and is closely monitoring the situation for potential future risks [3] Stock and Market Performance - As of December 23, 瑞茂通's stock price decreased by 3.06%, closing at 3.8 RMB per share, with a total market capitalization of 41.29 billion RMB [4] - The company reported a significant decline in revenue and profit for the third quarter of 2025, with a 29% year-on-year decrease in revenue and a 40.34% drop in net profit [4] Shareholder and Regulatory Actions - The controlling shareholder, 郑州瑞茂通, had 737 million shares frozen, representing 132.85% of its holdings and 67.79% of the company's total share capital [4] - The company received a regulatory notice from the Shanghai Stock Exchange regarding information disclosure requirements [4]

| 证券代码：600180 | 证券简称：瑞茂通 公告编号：2025-080 | | | --- | --- | --- | | 债券代码：255290.SH | 债券简称：24 | 瑞茂 01 | | 债券代码：255553.SH | 债券简称：24 | 瑞茂 02 | 瑞茂通供应链管理股份有限公司 关于部分债务逾期的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、部分债务逾期的进展情况 瑞茂通供应链管理股份有限公司（以下简称"公司"）及旗下子公司出现未 能按时履行部分债务偿还义务的情况，公司已于 2025 年 12 月 5 日在《中国证券 报》、《上海证券报》、上海证券交易所(www.sse.com.cn)披露了《瑞茂通关于 部分债务逾期及部分账户被冻结的公告》。截至本公告披露日，公司及旗下子公 司新增金融机构借款（流动资金贷款、银行承兑汇票、信用证等）逾期具体情况 如下： | 序号 | 债权人 | 债务人 | 逾期金额（万元人 民币） | 到期日期 | | --- | --- | --- | --- | - ...

Core Viewpoint - 瑞茂通's stock has experienced a significant decline in 2023, with a year-to-date drop of 9.96% and a notable decrease in revenue and profit margins [2][3]. Group 1: Stock Performance - As of December 23, 瑞茂通's stock price was 3.84 CNY per share, down 2.04% during the trading session, with a total market capitalization of 4.173 billion CNY [1]. - The stock has seen a decline of 3.03% over the last five trading days, 14.48% over the last 20 days, and 15.97% over the last 60 days [2]. Group 2: Financial Performance - For the period from January to September 2025, 瑞茂通 reported a revenue of 16.014 billion CNY, representing a year-on-year decrease of 28.97%, and a net profit attributable to shareholders of 74.76 million CNY, down 40.34% year-on-year [3]. - The company has distributed a total of 1.143 billion CNY in dividends since its A-share listing, with 300 million CNY distributed over the last three years [4]. Group 3: Shareholder and Market Activity - As of September 30, 2025, 瑞茂通 had 29,000 shareholders, a decrease of 15.55% from the previous period, with an average of 37,480 circulating shares per shareholder, an increase of 18.41% [3]. - The company has appeared on the龙虎榜 four times this year, with the most recent appearance on December 5, where it recorded a net purchase of 3.5613 million CNY [2].

实际上，这已经是公司在近一个月内收到的第二封关注函。 12月19日，瑞茂通（600180）公告，于2025年12月19日收到监管工作函，监管机构就公司信息披露事项明确了监管要求。 公告显示，监管工作函涉及对象包括上市公司、公司董事、高级管理人员以及控股股东及实际控制人。处理事由为"就公司信息披露事项明确监管要求"。 截至公告披露，公司未提及该监管工作函对日常经营的具体影响。 一个月内2次收到监管函，表明了监管机构对瑞茂通合规方面的高度关注。 瑞茂通成立于2000年，2012年8月在上交所上市，是首家A股上市的民营煤炭供应链服务企业。 查阅公司公告发现，公司不仅身负巨额债务，还诉讼缠身，控股股东股份被"超额冻结"。 ↓↓↓ 12月4日，上交所向瑞茂通下发监管函，涉及对象包括上市公司、董事、高级管理人员、控股股东及实际控制人。 截至12月5日，公司及旗下子公司逾期债务本金合计10.93亿元人民币，占公司最近一期经审计净资产的13.86%。 截至12月20日，公司及子公司连续12个月内累计发生尚未披露的诉讼事项涉案金额合计约为12.04亿元人民币，占公司最近一期经审计净资产的15.27%。 公司控股股东郑州瑞茂通及 ...