3.5亿旧案余波未了，中山证券遭连带起诉

Core Viewpoint - The article discusses a complex loan fraud case involving multiple financial institutions and a troubled rice company, highlighting ongoing legal disputes and the financial struggles of Zhongshan Securities, a subsidiary of Jinlong Co., which is facing significant litigation and declining performance [1][2][22]. Group 1: Fraud Case Overview - A loan fraud scheme involving 3.5 billion yuan was orchestrated by Liu Mouyi, the actual controller of Liuhe Ju Xin Yuan Rice Industry Co., and Zhang Mou, a bank executive, leading to a network of deceit across four financial institutions [1][4]. - The fraudulent activities included the forgery of bank documents and misrepresentation of the company's financial status to secure loans that were never legitimately obtained [4][6]. - The case has resulted in criminal convictions for the key perpetrators, but civil disputes continue, with claims totaling 4.89 billion yuan against Zhongshan Securities and other financial institutions [7][8]. Group 2: Zhongshan Securities' Legal and Financial Challenges - Zhongshan Securities has been involved in over 90 million yuan of litigation in the past year, which represents approximately 3.77% of its latest audited net assets [2][10]. - The company reported a 29% decline in revenue and an 88% drop in net profit for 2025, indicating severe financial distress [17][22]. - The ongoing legal issues and declining performance have raised concerns about the company's compliance and risk management practices, which have been criticized in the past [20][21]. Group 3: Impact on Jinlong Co. - Jinlong Co., the controlling shareholder of Zhongshan Securities, has faced four consecutive years of losses exceeding 900 million yuan, with a high equity pledge ratio of 98.98% [19][22]. - The company has attempted to alleviate its financial burden by planning to sell stakes in Zhongshan Securities and Dongguan Securities, although these efforts have faced challenges [19][22]. - The financial instability of Jinlong Co. poses additional risks to Zhongshan Securities, complicating its recovery and operational stability [22].