SMAC(SH:600073) Zheng Quan Zhi Xing·2025-08-21 08:19Core Viewpoint - The announcement details the debt issues faced by Hebei Zhongwang Agricultural Technology Co., Ltd., a subsidiary of Shanghai Guangming Meat Industry Group Co., Ltd., including multiple civil judgments and the potential impact on the company's financials [1][2][3][4]. Debt Matters Overview - Hebei Zhongwang, established in October 2017 with a registered capital of 300 million RMB, is primarily engaged in pig farming and related services [1]. - The company is involved in several legal cases, including claims from various plaintiffs for unpaid debts totaling approximately 34.28 million RMB from Jiangsu Fengda Guorun Construction Group Co., Ltd. and other amounts from different companies [2][3]. Financial Implications - The total amount of undisclosed litigation matters within the last 12 months is approximately 360 million RMB, representing about 7.35% of the company's latest audited net assets [3]. - The uncertainty surrounding the execution of these debt matters may affect the company's current profits, and the company will follow accounting standards for appropriate financial reporting [4]. Ongoing Actions - The company is actively communicating with relevant parties to resolve the litigation issues and will continue to monitor the situation while fulfilling its disclosure obligations [4].