Shirongzhaoye(SZ:002016) Nan Fang Du Shi Bao·2025-08-02 23:11Core Viewpoint - The recent announcement from Guangdong Shiyong Zhaoye Co., Ltd. reveals that its founder, Liang Jiarong, is required to pay approximately 1.85 billion RMB (plus interest) due to a preliminary ruling by a California court, marking a significant development in a four-year international lawsuit [2][23]. Company Background - Guangdong Shiyong Zhaoye was founded by Liang Jiarong, who has been featured multiple times on the Hurun Rich List and was once known as the "richest man in Zhuhai" [3][4]. - The company became the second listed real estate firm in Zhuhai after reverse merging with Weier Technology in 2008, developing notable properties such as Riviera and Shiyong Mingzhu [3][4]. Legal Issues - Liang Jiarong has faced serious legal challenges, including being placed under residential surveillance in 2016 for alleged money laundering and being implicated in various criminal activities since the 1990s [5][6]. - The company has initiated a cross-border lawsuit against Liang Jiarong, claiming he illegally appropriated company assets and received commercial bribes totaling approximately 2.8 billion RMB [9][10]. Financial Developments - In June 2025, a U.S. court ruled that Liang Jiarong must pay 2.59 billion USD (approximately 1.85 billion RMB) to the company, although this ruling is not yet enforceable [12][23]. - The company has seen fluctuating revenues, with reported figures of 2.948 billion RMB in 2020, 2.380 billion RMB in 2021, and a significant drop to 981 million RMB in 2024, indicating operational challenges [14][15]. Ownership Changes - In 2024, Zhuhai Daxihongqin Anju Investment Co., Ltd. acquired 60.28% of Shiyong Zhaoye's shares through judicial auction and tender offer, effectively removing Liang Jiarong and his family from control [13][23]. - The company is now under the control of a state-owned enterprise, marking a significant shift in its governance structure [13][23]. Future Outlook - The company holds a land reserve of 630,000 square meters in Zhuhai, which remains a critical asset for its future operations [15]. - The resolution of the ongoing legal disputes and the successful recovery of the claimed amounts could significantly improve the company's financial health, although uncertainties remain regarding the execution of the court's ruling [16].