XPH(SZ:300147) Mei Ri Jing Ji Xin Wen·2025-06-03 02:53Core Viewpoint - ST Xiangxue is facing significant financial challenges, including a court ruling requiring repayment of loans totaling 1.2 billion yuan, amidst ongoing legal disputes and declining revenues [1][2][3] Group 1: Financial Obligations - ST Xiangxue is required to repay two loans to Hubei Qingsong Yuyao Co., with a total principal of 1.2 billion yuan and accumulated interest nearing 20 million yuan [1] - The first loan of 812 million yuan has an interest rate of 14.6%, while the second loan of 400 million yuan has an interest rate of 3.1% [1][2] - The company has pledged shares worth 600 million yuan as collateral for the loans, giving the lender priority in repayment if obligations are not met [2] Group 2: Legal Issues - The company is currently involved in 143 lawsuits and arbitration cases, with 103 related to operational matters [2][3] - A recent court decision has allowed the company to enter a pre-restructuring phase, which lasts for three months, but does not guarantee formal restructuring [3] Group 3: Financial Performance - In 2024, ST Xiangxue reported a revenue of 1.859 billion yuan, a decline of 19.16% year-on-year, and an increased net loss of 859 million yuan compared to a loss of 389 million yuan in 2023 [2][3] - The first quarter of 2025 showed a revenue of 421 million yuan, down 25.99% year-on-year, with a net loss of 877 million yuan, worsening from a loss of 356 million yuan in the same period last year [3] - The company’s cash flow from operating activities was negative 824 million yuan, a decline of 419.44% year-on-year [3]