Shirongzhaoye(SZ:002016) 财联社·2025-07-25 04:29Core Viewpoint - The ongoing legal battle involving Shiyong Zhaoye, a real estate company once known as one of the "Three Musketeers of Zhuhai Real Estate," has drawn significant attention due to a lawsuit against its former chairman for 2.585 billion USD, which is approximately 60% of the company's current market value [1][10]. Group 1: Legal Proceedings - The lawsuit began in August 2021, with Shiyong Zhaoye accusing its former chairman Liang Jiarong of breaching fiduciary duties, initially seeking 650 million CNY [2]. - In December 2022, the claim was escalated to approximately 2.8 billion CNY, citing various illegal activities by Liang, including the embezzlement of company assets and acceptance of bribes totaling over 2.15 billion CNY [3]. - The recent court ruling requires Liang to pay 2.585 billion USD, plus interest, although the ruling is not yet enforceable and depends on the final judgment [5][4]. Group 2: Company Performance - Shiyong Zhaoye has faced significant financial challenges, with a reported revenue of 981 million CNY in 2024, a decline of 36.63% year-on-year, and a net profit of 37.41 million CNY, down 81.54% [8]. - The company's cash flow situation is dire, with a net cash flow from operating activities of -434 million CNY, a decrease of 47.4% [9]. - The company is attempting to diversify its operations beyond real estate, exploring sectors such as commerce, international trade, and health tourism [9]. Group 3: Ownership Changes - During the four-year litigation, Shiyong Zhaoye underwent a significant change in ownership, with the Zhuhai State-owned Assets Supervision and Administration Commission becoming the actual controller [6]. - In July 2024, a judicial auction led to the acquisition of a controlling stake in the company by Zhuhai Dahongqin Anju Company, which now holds over 60% of the shares [6].