Greenland Holdings(SH:600606) Chang Jiang Shang Bao·2025-10-27 01:45Core Viewpoint - Greenland Holdings is facing significant legal challenges and financial losses, with a total of 1,344 new lawsuits filed in a short period, reflecting ongoing operational and compliance risks in the real estate and infrastructure sectors [1][2][3]. Legal Challenges - From October 1 to 20, 2025, Greenland Holdings and its subsidiaries faced 1,344 new lawsuits, involving a total amount of 6.381 billion yuan [2]. - Among the new lawsuits, 1,278 cases involved Greenland Holdings as the defendant, totaling 5.894 billion yuan, with the majority related to construction and real estate disputes [2]. - The number of lawsuits has increased significantly over the years, with 6,998 cases and 29.824 billion yuan involved by mid-2025, indicating a growing legal burden [2]. Financial Performance - Greenland Holdings reported continuous losses over the past two and a half years, with net losses of 9.556 billion yuan in 2023, 15.55 billion yuan in 2024, and 3.506 billion yuan in the first half of 2025, totaling over 28.6 billion yuan [4][5]. - The company attributes its losses to market downturns, declining asset prices, and increased financial expenses due to reduced capitalization of interest [4]. Debt Pressure - As of mid-2025, Greenland Holdings had total liabilities of 936.9 billion yuan and an asset-liability ratio of 89.05%, indicating significant short-term repayment pressure and liquidity risks [5]. Strategic Response - To address its challenges, Greenland Holdings has implemented measures such as forming task forces and enhancing litigation management to resolve ongoing lawsuits [3]. - The company aims to stabilize its operations and improve its financial performance by focusing on asset management, project delivery, and exploring new business avenues, although these new ventures are still in early stages and not yet contributing significantly to revenue [5]. Market Confidence - There is a noted decline in market confidence regarding Greenland Holdings, with ongoing operational and financial challenges potentially impacting its future stability [6].