SDRB(SZ:000498) Zheng Quan Shi Bao Wang·2024-11-19 02:53Core Viewpoint - Shandong Expressway Bridge Group Co., Ltd. (referred to as "Shandong Bridge") is facing legal challenges regarding the acquisition of an office building due to the seller's debt issues, which have led to a court ruling affecting the property [1][2]. Group 1: Acquisition Details - The property in question, known as the "Target Property," is located in the Crystal Center A Building with a total construction area of approximately 33,000 square meters and 320 parking spaces, with a total price of 570 million yuan [2][4]. - The acquisition was approved by the board on July 30, 2018, and the company had previously noted that the property was subject to mortgage and other encumbrances that needed to be resolved [2][4]. Group 2: Legal and Financial Context - The seller, Shandong Runyang Real Estate Co., Ltd. ("Runyang Real Estate"), has been listed as a dishonest executor multiple times, with debts related to compensation and project payments totaling over 53 million yuan [3]. - Shandong Bridge has initiated a civil lawsuit against Runyang Real Estate for failing to transfer the property as agreed, with the lawsuit filed on October 18, 2023 [4]. Group 3: Company Overview - Shandong Bridge is part of the Shandong Highway Group and has developed into a significant listed enterprise with total assets nearing 100 billion yuan, annual revenue exceeding 60 billion yuan, and total profits over 3 billion yuan [4]. - On November 18, 2023, the company's stock rose by 2.03%, closing at 6.53 yuan per share, with a total market capitalization of 10.2 billion yuan [5].