HIKING(SH:600735) Xi Niu Cai Jing·2026-01-07 11:33Group 1 - ST Xinhua Jin announced on January 7 that a court case involving defendants Wang Liyang and Ke Yi has been postponed due to a jurisdictional appeal filed with the Qingdao Intermediate People's Court [2] - The company’s subsidiary, Shanghai Lizhi Industrial Co., Ltd., failed to meet its 2023 performance commitments, leading to a lawsuit against Wang Liyang and Ke Yi for cash compensation [4] - On December 3, 2025, ST Xinhua Jin received a court summons for a case set to be heard on January 7, 2026, regarding a dispute over equity transfer [4] Group 2 - As of the half-year report disclosure date in 2025, non-operational fund occupation by Xinhua Jin Group and its affiliates amounted to 406 million yuan, which must be returned within six months of receiving the administrative corrective measures notice [6] - ST Xinhua Jin has faced multiple legal issues, including the judicial freezing of shares held by its controlling shareholder and potential delisting risk warnings [7] - The company’s subsidiary, Shandong Xinhua Jin Textile Co., Ltd., is involved in a lawsuit with a disputed amount of 26.8 million yuan related to equity transfer, and its 75% stake in Qingdao Hengfu has been judicially frozen [8]