GDMZH(SH:600382) Shang Hai Zheng Quan Bao·2026-01-29 20:09Core Viewpoint - The announcement details the ongoing litigation involving Guangdong Mingzhu Group's wholly-owned subsidiary, which is currently in the execution phase, with significant financial implications for the company due to uncertain recovery of loan principal and interest [2][10]. Group 1: Case Background - The subsidiary, Guangdong Mingzhu Group Land Co., Ltd., initiated a lawsuit against Xingning Hongyuan Real Estate Development Co., Ltd. over a contract dispute related to the "Honggui Garden Development Project" [4]. - The case was accepted by the Meizhou Intermediate People's Court on March 22, 2022, with subsequent court proceedings and delays due to counterclaims from the defendant [4][5]. - A civil judgment was issued by the Guangdong Provincial Meizhou Intermediate People's Court on June 27, 2023, and an appeal was filed by the defendant [5]. Group 2: Financial Implications - The involved amount includes a principal loan of 588.5 million yuan and interest of approximately 121.43 million yuan as of March 9, 2022, with additional interest calculated at four times the one-year loan market quotation rate from March 10, 2022, until repayment [3]. - The company anticipates a credit impairment loss of approximately 93.64 million yuan for the year 2025 due to the uncertainty surrounding the recovery of the loan and interest [3][10]. Group 3: Case Progress - As of January 29, 2026, the company reported complications in the execution of the judgment, including the discovery of 49 residential units that had been sold prior to the court's seizure [7]. - An objection was raised by a third party regarding the execution of 99 properties, leading to a court ruling that temporarily halted the execution of certain properties [7][8]. - The company has filed a lawsuit with the Meizhou Intermediate People's Court regarding the ongoing execution process [9].