CASHWAY(SH:603106) Sou Hu Cai Jing·2025-07-07 11:39Core Viewpoint - Hengyin Technology disclosed that it has overdue amounts of 185 million yuan related to trust financial products purchased in 2021, with ongoing legal actions to recover these funds [2][3][4]. Group 1: Trust Products and Financial Details - Hengyin Technology purchased the "Guomin Trust·Huijin 87" trust plan for 170 million yuan with an expected annual return of 11.00%, which was used for loans to Tianjin Zhirong Building Materials Sales Co., Ltd. [2][3] - The company also acquired the "Chang'an Ning·Yingxiang 1" trust plan for 15 million yuan with an expected annual return of 8.00%, intended for loans to Zhengbang Group Co., Ltd. [3] - As of the end of 2024, the overdue amount for the Guomin Trust product is 170 million yuan, with only 13 million yuan received in investment income [2][4]. Group 2: Legal Actions and Recovery Efforts - Hengyin Technology has entrusted Guomin Trust to sue relevant parties, with a final judgment received in September 2024 [2][3]. - The Tianjin Intermediate People's Court is currently evaluating the market value of the collateral properties, with an expected completion date for the assessment report by July 2025 [3][4]. - The company plans to resolve the trust loan debt through judicial auction or debt-to-equity swaps, and will continue to pursue the debtor if the recovered amounts are insufficient [3][4]. Group 3: Financial Performance of Trust Companies - Guomin Trust reported total assets of 5.129 billion yuan and net assets of 4.399 billion yuan as of the end of 2024, with a net profit of 385 million yuan and a return on equity of 9.16% [5][6]. - Chang'an International Trust has not disclosed its annual reports for 2022, 2023, and 2024, with its latest report being from 2021 [6].