SC Pharmaceuticals(SZ:002693) Hua Xia Shi Bao·2025-08-07 23:51Core Viewpoint - *ST Shuangcheng has filed a lawsuit against Zhongrong International Trust due to overdue trust products, with a total amount of 51.98479 million yuan involved, highlighting ongoing issues in the trust product market and the financial strain on companies relying on these investments [2][3][4]. Company Summary - *ST Shuangcheng has initiated legal proceedings against Zhongrong International Trust for overdue payments related to two trust investments totaling 51.98479 million yuan, which includes principal and interest [2][3]. - The company invested 20 million yuan in a trust product with a 7.0% annualized expected return and 30 million yuan in another product with a 6.2% return, both of which have not been repaid as scheduled [3]. - The overdue amounts include 20 million yuan and 105.479452 thousand yuan due by September 29, 2023, and 30 million yuan and 93 thousand yuan due by October 18, 2023 [3]. - The lawsuit seeks full repayment of the overdue amounts along with interest losses calculated based on the Loan Prime Rate (LPR) [3]. Financial Impact - The overdue trust funds represent over 60% of *ST Shuangcheng's total revenue of 84.1221 million yuan for the first half of the year, exacerbating the company's financial difficulties [4][5]. - The company reported a net loss of 18.4666 million yuan in the first half of the year, which has increased compared to the previous year's loss [4][5]. - The inability to access these funds may hinder the company's ability to procure raw materials, invest in research and development, or repay debts, potentially leading to a chain reaction of financial issues [5]. Industry Context - Since 2023, multiple companies have faced similar issues with Zhongrong Trust products, indicating a broader trend of overdue payments affecting various firms [2][6]. - The trust industry is currently undergoing significant challenges, with many companies experiencing overdue products and financial strain, prompting a reevaluation of the risks associated with trust investments [10][11]. - The trend of companies relying on trust products has been declining due to regulatory changes and deteriorating asset quality, with a notable decrease in the number of companies investing in trust products in recent years [9][10].