Jingfeng Pharmaceutical(SZ:000908) Zheng Quan Zhi Xing·2025-07-31 16:26Core Viewpoint - The report outlines the financial difficulties faced by Hunan Jingfeng Pharmaceutical Co., Ltd., including overdue debts and the company's inability to repay loans on time, which may lead to significant operational impacts [2][4][6]. Debt Maturity Overview - The company signed a loan agreement with Huaxia Bank Shanghai Branch for 138 million yuan, with an initial term from February 9, 2023, to February 9, 2024, which was later extended to January 27, 2025 [2]. - A supplementary guarantee agreement was signed, changing collateral and pledges for a loan of 117 million yuan, with a new repayment date set for July 27, 2025, at a fixed interest rate of 4.55% [3]. Debt and Guarantee Status - As of July 27, 2025, the company anticipates an inability to repay the principal and interest of 117.1 million yuan, with total overdue debts amounting to 155.96 million yuan, representing 190.66% of the company's audited net assets [4][5]. - The company has provided joint liability guarantees for overdue debts, with a total overdue guarantee amount of 164.32 million yuan, which is 200.88% of the company's audited net assets [5]. Impact on the Company and Response Measures - The overdue debts may lead to potential lawsuits, arbitration, and freezing of bank accounts and assets, which could affect daily operations [6]. - The company is taking proactive measures to address the overdue debts, including loan extensions and establishing communication mechanisms for risk mitigation [6].