Group 1 - Kinkor Real Estate Group Co., Ltd. (stock code: *ST Kinkor, 000656) announced a significant lawsuit involving its subsidiaries, with the amount in question approximately 628 million yuan [1][4] - The lawsuit was initiated by Shandong International Trust Co., Ltd. against three subsidiaries of Kinkor Real Estate, stemming from a loan contract dispute [4] - The loan of 616 million yuan was provided to one subsidiary, Xianyang Jinjia Run Real Estate Development Co., Ltd., for project development, with two other subsidiaries providing collateral and joint guarantees [4] Group 2 - Xianyang Jinjia Run defaulted on repayments after making partial payments, leading Shandong International Trust to pursue legal action after unsuccessful collection attempts [4] - One of the defendants, Chongqing Kinkor Real Estate Development Co., Ltd., has entered a restructuring process, which may adversely affect the recovery of debts for Shandong International Trust [4] Group 3 - Shandong International Trust, established in March 1987 and listed on the Hong Kong Stock Exchange in December 2017, has been reducing its exposure to real estate trusts due to industry volatility [5] - As of the end of 2024, Shandong International Trust's managed assets grew by 15.2% to 213.823 billion yuan, with investment trust scale increasing by 49.85% to 126.961 billion yuan, accounting for 59.38% of total assets [5] - The total revenue for Shandong International Trust for the year ending December 31, 2024, was 905 million yuan, a decrease of 23.98% year-on-year, while net profit was 143 million yuan, down 9.98% year-on-year [5][6]
山东国信诉金科地产子公司涉案超6亿，2024年营收降23.98%、净利降9.98%